Small Track Corporation purchased on account a new grooming machine on September 13, 2015, from a Welsh company for 250,000 British pounds. Small Track paid the Welsh company on September 26, 2015. The British pound was worth $1.75 on September 13, 2015, and $1.77 on September 26, 2015.
Prepare entries for Small Track Corporation needed on September 13 and September 26, 2015.

Question

Quizplus · Accepted Answer

The Answer of Small Track Corporation purchased on account a new grooming machine on September 13, 2015, from a Welsh company for 250,000 British pounds. Small Track paid the Welsh company on September 26, 2015. The British pound was worth $1.75 on September 13, 2015, and $1.77 on September 26, 2015.
Prepare entries for Small Track Corporation needed on September 13 and September 26, 2015.

Small Track Corporation Purchased on Account a New Grooming Machine