Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
In evaluating the acquisition, Emily and Richard are a little concerned. Faster is expected to make a 500,000 yen sale to a Japanese company with credit terms of net 150 days. The yen has been falling against the dollar, so they are expecting a loss.
Write a memo with the following information:
1. What is the entry to record the 500,000 yen sale on Faster’s books assuming the yen is 0.92 against the dollar?
2. How can Emily and Richard mitigate the foreign currency loss? 
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