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8th TT: Payment for the Purchase of Fixed Assets (O10)

Our friendly creditor submitted his invoice on January 24th, Y1 for a value of US$74,800 at a rate of exchange of 1.70 USD to £1.00 GBP – equivalent to £44,000. The supply was imported servers, computers and printers from USA. Now the time has come to pay up and honour our obligation! Its effect in the balance sheet is shown in the Exhibit below below:

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