Essay
JetNew Corporation sold merchandise on June 25, 2014 to a US company for 560,000 US dollars. JetNew received payment from the US company on July 5, 2014. The US was worth $1.04 on June 25, 2014, and $1.05 on July 5, 2014.
Prepare the appropriate sales and cash receipts entries for JetNew Corporation on May 25, 2014, and July 5, 2014.
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