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  3. s2. coyote corp. (a u.s. company in texas) had the

S2. Coyote Corp. (a U.S. company in Texas) had the following series of transactions in...

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Accounting

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S2. Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2018: Mar, 1 May Aug. 1 Sept. 1 Paid 36,000 pesos to creditors Bought inventory costing 60,000 pesos on credit. Sold 60% of the inventory for 54,000 pesos on credit. Collected 48,000 pesos from customers 1 The appropriate exchange rates during 2018 were as follows: Exchange Rate Date March 1, 2018 May 1, 2018 August 1, 2018 September 1, 2018 December 31, 2018 $.20-1 peso $.22-1 peso $.23-1 peso S.24 1 peso $.25 1 peso 30) Prepare all journal entries in U.S. dollars along with any December 31,2018 adjusting entries. Coyote uses a perpetual inventory system

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