On May I,2016,British Columbia Brew Supplies Inc. borrowed USS 180,000 from its bank. British Columbia's year-end is December 31,2016. Exchange rates were as follows:
Requirement:
Prepare the required journal entries to record receipt of the loan proceeds and for any adjustments required at year-end.

Question

On May I,2016,British Columbia Brew Supplies Inc. borrowed USS 180,000 from its bank. British Columbia's year-end is December 31,2016. Exchange rates were as follows:
  Requirement:
Prepare the required journal entries to record receipt of the loan proceeds and for any adjustments required at year-end.

Quizplus · Accepted Answer

The Answer of On May I,2016,British Columbia Brew Supplies Inc. borrowed USS 180,000 from its bank. British Columbia's year-end is December 31,2016. Exchange rates were as follows:
  Requirement:
Prepare the required journal entries to record receipt of the loan proceeds and for any adjustments required at year-end.