Golden Age Co.exports Native American artwork to Japan.Prepare journal entries for the following transactions.
$$\begin{array} { | l | l | }
\hline \text { Nov 10 } &\text { Sold artwork to Tanaka Company for } 10,000,000 \text { yen, terms n/30. The exchange } \
&\text { rate was } \$ 0.0084 \text { per yen. }\
\hline \text { Dec } 5 &
\text { Received payment from Tanaka Company for the November } 10 \text { sale. The }\
&\text { exchange rate was } \$ 0.009 \text { per yen. }\
\hline
\end{array}$$

Question

Golden Age Co.exports Native American artwork to Japan.Prepare journal entries for the following transactions.
 $$\begin{array} { | l | l | } 
\hline \text { Nov 10 } &\text { Sold artwork to Tanaka Company for } 10,000,000 \text { yen, terms n/30. The exchange } \
&\text { rate was } \$ 0.0084 \text { per yen. }\
\hline \text { Dec } 5 &
\text { Received payment from Tanaka Company for the November } 10 \text { sale. The  }\
&\text { exchange rate was } \$ 0.009 \text { per yen. }\
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Golden Age Co.exports Native American artwork to Japan.Prepare journal entries for the following transactions.
 $$\begin{array} { | l | l | } 
\hline \text { Nov 10 } &\text { Sold artwork to Tanaka Company for } 10,000,000 \text { yen, terms n/30. The exchange } \
&\text { rate was } \$ 0.0084 \text { per yen. }\
\hline \text { Dec } 5 &
\text { Received payment from Tanaka Company for the November } 10 \text { sale. The  }\
&\text { exchange rate was } \$ 0.009 \text { per yen. }\
\hline
\end{array}$$