A company entered into the following transactions. For each transaction, indicate the appropriate journal.
Definitions:
Fair Value
The price at which an asset or liability could be exchanged between knowledgeable, willing parties in an arm's length transaction.
Spot Rates
The existing selling or buying price of a certain asset that is ready for instant delivery.
IFRS 9
International Financial Reporting Standard 9, dictating the accounting for financial instruments, including recognition, measurement, and impairment of assets.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.
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