On May 1,2016,British Columbia Brew Supplies Inc.borrowed US$180,000 from its bank.British Columbia's year-end is December 31,2016.Exchange rates were as follows:
Required:
Prepare the required journal entries to record receipt of the loan proceeds and for any adjustments required at year-end.

Question

On May 1,2016,British Columbia Brew Supplies Inc.borrowed US$180,000 from its bank.British Columbia's year-end is December 31,2016.Exchange rates were as follows:
  Required:
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 1,2016,British Columbia Brew Supplies Inc.borrowed US$180,000 from its bank.British Columbia's year-end is December 31,2016.Exchange rates were as follows:
  Required:
Prepare the required journal entries to record receipt of the loan proceeds and for any adjustments required at year-end.