Chocolate De-lites imports and exports chocolate delicacies.
Some transactions are denominated in U.S. dollars and others in
foreign currencies. A summary of accounts receivable and accounts
payable on December 31, 20X6, before adjustments for the effects of
changes in exchange rates during 20X6, follows:
Accounts receivable:
In U.S. dollars
$
164,000
In 475,000 Egyptian pounds
(E£)
$
73,600
Accounts payable:
In U.S. dollars
$
86,000
In 21,000,000 yen (¥)
$
175,300
The spot rates on December 31, 20X6, were...