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17 (4 points) Nagata, Inc., a domestic entity, sold goods to a British company on 6/10 with the transaction denominated in Pounds. The sales price

17 (4 points) Nagata, Inc., a domestic entity, sold goods to a British company on 6/10 with the transaction denominated in Pounds. The sales price of the goods was 200,000, and the cost of the goods was $80,000. The receivable is payable in full on 7/10, and Company XYZ prepares their financials monthly. Relevant exchanges rates are 6/10 1 - $1.25, 6/30 1 - $1.30, and 7/10 1 $1.35. Based on this information, how much would accounts receivable need to be revalued by on 6/30? a) $10,000 decrease b) $4,000 decrease c) $10,000 increase d) $0

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