Tank Corporation, a U

question 14

Essay

Tank Corporation, a U.S. manufacturer, has a June 30 fiscal year end. Tank sold goods to their customer in Columbia on May 27, 2014 for 18,000,000 Columbian pesos. The customer agreed to pay pesos in 60 days. When the customer wired the funds to Tank on July 26, Tank held them in their bank account until July 31 before selling them and converting them to U.S. dollars. The following exchange rates apply:
Required:
Record the journal entries related to the dates listed above. If no entry is required, state "no entry."

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Definitions:

Positive Organizational Behavior

A focus on the strengths and virtues that enable individuals and organizations to thrive, emphasizing positive outcomes, improvement, and resilience.

Organizational Culture

The shared values, beliefs, and practices that characterize an organization and influence its members' behaviors and attitudes.

High-involvement Management

Describes organizational practices that empower employees by involving them in decision-making processes and giving them a degree of autonomy and control over their work.

Positive Organizational Behavior

Focuses on the application of positively oriented human resource strengths and psychological capacities that can be measured, developed, and effectively managed for performance improvement in the workplace.