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Certain balance sheet accounts of a foreign subsidiary of the Tulip Co. had been stated in U.S. dollars as follows: Stated at Historical Rates Current

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Certain balance sheet accounts of a foreign subsidiary of the Tulip Co. had been stated in U.S. dollars as follows: Stated at Historical Rates Current Rates Accounts receivable-current Accounts receivable-long term Prepaid insurance Goodwill Totals $288,8e 308,888 154,888 77,888 112,888119.988 602,8e 658,88e 148,888 78,88e If the subsidiary's local currency is its functional currency, what total amount should be included in Tulip's balance sheet in US. dollars? Multiple Choice $609,000. $658,000. $602,000 $630,000 $616,000

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