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What is the entry for payment of the invoice
Course:- Accounting Basics
Reference No.:- EM132231828





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Question - Augustine Imports imported crystal from England at a total invoice price of 84,000 pounds. On August 1, the date of purchase, the exchange rate was $2 = 1 pound. On September 10, the invoice was paid when the exchange rate was $1.75 = 1 pound. What is the entry for payment of the invoice?




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