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A U.S. importer wants to purchase merchandise from a German exporter invoiced in euros at a cost of 569,450. The U.S. importers bank quotes an
A U.S. importer wants to purchase merchandise from a German exporter invoiced in euros at a cost of 569,450. The U.S. importers bank quotes an exchange rate of 1.1389/$1.00. After accepting the quote, the bank _______ the importer's account in the amount of _______.
Multiple Choice
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debits; $569,450
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None of the options.
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credits; $648,546
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debits; $500,000
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credits; 569,450
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