A U.S. Corp. purchased a computer from a French firm on July 1, 20X5, when a Euro cost $0.25. The U.S. firm will be required to pay the French manufacturer 75,000 Euros on August 1, 20X5, when the Euro costs $0.23.
Required:
Make the necessary journal entries for the U.S. firm on July 1 and August 1.

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The Answer of A U.S. Corp. purchased a computer from a French firm on July 1, 20X5, when a Euro cost $0.25. The U.S. firm will be required to pay the French manufacturer 75,000 Euros on August 1, 20X5, when the Euro costs $0.23.
Required:
Make the necessary journal entries for the U.S. firm on July 1 and August 1.

A US Corp Purchased a Computer from a French Firm on July