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Assume the following spot exchange rates between the U.S. dollar and

Assume the following spot exchange rates between the U.S. dollar and the British pound sterling: April 1 $1.8685April 30 $1.8258May 31 $1.7740On April 1 ABC Inc. a U.S. international company sells goods to a British importer for 1 000 000. Payment is to be received on May 31 and ABC Inc. adjusts its financial statements quarterly. What are the journal entries for ABC Inc. on April 1 April 30 and May 31? Was the dollar strengthening or weakening over the period of the contract?submit in excel

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