1. Account Receivable Denominated in a Foreign Currency (10 points) Assume that your company sells products to a customer located in Great Britain on November 20. The invoice specifies that payment is to be made on February 20 in Pounds Sterling (GBP) in the amount of GBP100,000. Your company operates on a calendar year basis. Assume the following exchange rates: November 20 December 31 February 20 $1.20 : 1GBP $1.15: 1GBP $1.18 : 1GBP a. Prepare the journal entries to record the sale. b. Prepare the journal entry as of Dec. 31. c. Prepare the journal entry as of Feb. 20