On November 1, 2019, Black Company purchased inventory from a company in France. Payment will...
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Accounting
On November 1, 2019, Black Company purchased inventory from a company in France. Payment will be made in 500,000 Euros and will be paid on February 1, 2020.
Direct Exchange rates:
November 1, 2019 $1.06
December 31, 2019 $1.09
February 1, 2020 $1.08
Black has a December 3 1 st year end. Prepare the necessary journal entries for this import transaction
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