Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 2021, for 100,000 stickles. Payment was received on October 15, 2021. The following exchange rates applied: Required:Prepare all journal entries for Old Colonial Corp. in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements.

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Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 2021, for 100,000 stickles. Payment was received on October 15, 2021. The following exchange rates applied:  Required:Prepare all journal entries for Old Colonial Corp. in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements.

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The Answer of Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 2021, for 100,000 stickles. Payment was received on October 15, 2021. The following exchange rates applied:  Required:Prepare all journal entries for Old Colonial Corp. in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements.