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Figured it out: no need to answer. Thank you Barter Corp. sold American telecommunications equipment to a British company for 590,000 pounds. On the sale
Figured it out: no need to answer. Thank you
Barter Corp. sold American telecommunications equipment to a British company for 590,000 pounds. On the sale date, the exchange rate was $1.65 per British pound, but when Barter received payment from its customer, the exchange rate was $1.60 per pound. When the foreign receivable was collected, Barter Enterprises: Multiple Choice Debited Loss on Fluctuation of Foreign Currency for $29,500 Credited Sales for $29,500. Debited Cash for $29,500. Credited Gain on Fluctuation of Foreign Currency for $29,500Step by Step Solution
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