The Following Information Pertains to Questions

question 47

Essay

The following information pertains to questions
On July 1,2013,Great White North (GWN)Inc.purchased merchandise from a supplier in the U.S.for $800,000 with terms requiring full payment by October 31,2013.On July 2,GWN entered into a forward contract to purchase $800,000 U.S.on October 31,2013 at a rate of $1.2275CDN.
On October 31,GWN paid its supplier in full.Selected dates and spot rates are shown below:
-Prepare any and all Journal Entries you deem necessary to record the above transaction.

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Definitions:

Eye Contact

The act of looking directly into another person's eyes, which can convey confidence, interest, or honesty in communication.

Greeting Behaviors

Entail the customary ways individuals acknowledge each other's presence in a social or professional setting.

Cross-cultural Preparation

The training and education provided to individuals to prepare them to effectively interact and work in diverse cultural contexts.