Deliverable Length: Excel spreadsheet and 2-3 pages Microsoft Word OBJECTIVES You will create this assignment following the Assignment Detail instructions below. This assignment will be submitted in D

Deliverable Length: Excel spreadsheet and 2-3 pages Microsoft Word OBJECTIVES You will create this assignment following the Assignment Detail instructions below. This assignment will be submitted inDeliverable Length: Excel spreadsheet and 2-3 pages Microsoft WordOBJECTIVESYou will create this assignment following the Assignment Detail instructions below. This assignment will be submitted in the Unit 5 – Submission Assignment 1 lesson in intellipath.Review the tutorial titled How to Submit the Intellipath Submission Assignment.Please submit your work to this week’s Intellipath Unit Submission lesson. Click the Upload button within the submission lesson to access the submission area. Click the Select File button to upload your document, and then click “OK” to finish. Assignment DetailsGlobalization is a continuous process whereby managers become aware of the impact of international activities on their companies. This process takes place in stages that include exporting, licensing joint ventures, wholly owned subsidiaries, and global sourcing. Each stage has implications for the type of accounting information reported.Striking Furs imports furs from Canada. In the space provided below, prepare journal entries to record the following events.Dec. 11, 2017: Purchased furs from Capable Trappers, Ltd., a Canadian corporation, at a price of 25,000 Canadian dollars, due in 60 days. The current exchange rate is $0.85 U.S. dollars per Canadian dollar. (Striking uses the perpetual inventory method; debit the Inventory account.)Dec. 31, 2017: Striking made a year-end adjusting entry relating to the account payable to Capable Trappers. The exchange rate at year-end is $0.89 U.S. dollars per Canadian dollar.Feb. 9, 2018: Issued a check for $21,750 (U.S. dollars) to National Bank in full settlement of the liability to Capable Trappers, Ltd. The exchange rate at this date is $0.87 U.S. dollars per Canadian dollar.2. Explain ways in which Striking Furs can protect itself against the losses that would arise from a sudden increase in the foreign exchange rate.Please submit your assignment.For assistance with your assignment, please use your text, Web resources, and all course materials.Your assignment will be graded in accordance with the following criteria. Click here to view the grading rubric.If you are planning to repurpose an assignment or submit one you have used before, please let your instructor know. If an instructor is not made aware of work being repurposed or reused, he or she will treat the assignment as a plagiarized task and reserves the right to post an F grade and submit a task for review to administration until proof of originality is provided. Click here for more information.The following are some tips if you have problems submitting your assignment:Resave in the proper format per the Assignment Detail instructions, and resubmit.Submit with a different Web browser.Submit from a different computer.Call Technical Support at 877-221-5800, Menu Option 2. They are open 24/7.If you are still having difficulties after trying steps 1–4, please contact your course instructor.Make sure you submit this assignment by the listed due date. Late deductions will apply for this assignment as follows: Assignments submitted within 7 calendar days after the stated due date: 10% penalty of total assignment points.Assignments submitted 8–14 calendar days after the stated due date: 20% penalty of total assignment points.Assignments submitted 15–21 calendar days after the stated due date: 30% penalty of total assignment points.Assignments submitted 22–28 calendar days after the stated due date: 40% penalty of total assignment points.No assignments, including late assignments, will be accepted after the end of the course unless an approved Incomplete has been granted.