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P9-28
Bartlett Company, headquartered in Cincinnati, OH has occasional
transactions with companies in a foreign country whose currency is
the lira. Prepare journal entries for the following transactions in US
dollars. Also prepare any necessay adjusting entries at December 31
caused by fluctuations in the value of the lira. Assume that the
company uses a perpetual inventory system.
Transactions in 2013:
01.февр
Bought equipment for 40,000 lira on credit.
01.апр
Paid for the equipment purchased February 1.