Brief Exercise 15.2 (Static) Purchases in a Foreign Currency (LO15-4, LO15-5) Assume that a U.S. company makes a purchase from a British company and agrees to pay a price of 2 million. a. How will the U.S. company determine the cost of this purchase for the purpose of recording it in its accounting records? By translating 2 million pounds into the equivalent value in U.S. dollars. By translating 2 million pounds into the equivalent value in Euro. By translating 2 million pounds into the equivalent value in Yen. b. How will the U.S. company arrange for the payment of pounds to the British company? It can pay through its bank. It can pay through its broker. None of the choices