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advanced Financial Accounting a one-note practice problem in this presentation were gonna work a practice problem in OneNote related to purchases and sales involving foreign currencies so we have purchases and sales taking place were gonna have to deal with the foreign currency that will be involved within them get ready to account with advanced financial accounting here we are in OneNote were gonna go over the information for our problem all at once then were gonna pull pieces of that information so that we can see them as we work through components of the practice problem we will in essence have a few different scenarios for purchases and sales that will take place that will have a foreign currency component to them first item 3 1 US company thats going to be us where the US company sells to a Canadian company and the sales price was 42,000 Canadian dollars then the receivable is gonna expire were gonna collect on 5:30 to do this were gonna need these spot rates for the releva