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

Question

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

Quizplus · Accepted Answer

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