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Q-3) Redwood Company keeps its accounts in TL. The company purchased 1,000 Euro on December...

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Q-3) Redwood Company keeps its accounts in TL. The company purchased 1,000 Euro on December 5, 2016 (1 = 3.7917 TL). The foreign currency was kept in the safe of company. On December 31, 2016, 1 was 3.7102 TL. On January 29, 2017, the company sold 1,000 . At that date, 1 was 4.1405 TL. Besides, the company purchased 40,000 on May 4, 2016 and invested it into a bank depozit account with an interest of 1,05% yearly (1 = 3.3975 TL). The maturity is 2 months (ending on July 4, 2016:1 = 3.2401 TL). That amount was sold and turned into TL at maturity. Make the necessary journal entries

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