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Iberico plc , a Spanish firm whose functional currency is EUR, sold goods to a British customer for 1 0 , 0 0 0 GBP
Iberico plc a Spanish firm whose functional currency is EUR, sold goods to a British customer for GBP on credit. The exchange rate on the date of sale was EUR. Which the journal entry shall Iberico plc prepare regarding the sale?
Select one:
a DR Receivable EUR, CR Sale EUR
b DR Receivable GBP CR Sale GBP
c DR Cash EUR, CR Sale EUR
d DR Cash GBP CR Sale GBP
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