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12. 10.00 points Bartlett Company, headquartered in Cincinnati, Ohio, has occasional transactions with companies in...

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12. 10.00 points Bartlett Company, headquartered in Cincinnati, Ohio, has occasional transactions with companies in a foreign country whose currency is the lira Transactions in 2015 February 1 April 1 June 1 August 1 October 1 November 1 Bought equipment for 40,000 lira on credit. Paid for the equipment purchased February 1 Bought inventory for 30,000 lira on credit. Sold 70 percent of inventory purchased June 1 for 40,000 lira on credit. Collected 30,000 lira from the sales made on August 1, 2015 Paid 20,000 lira on the debts incurred on June 1, 2015 Transactions in 2016 February 1 March 1 Collected remaining 10,000 lira from August 1, 2015, sales Paid remaining 10,000 lira on the debts incurred on June 1, 2015 Currency exchange rates for 1 lira for 2015 February 1 April 1 June 1 August 1 October1 November 1 December 31 $0.44 0.45 0.47 0.48 0.49 0.50 0.52

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