My courses NATIONAL ACCOUNTING Section1 lecture (20201_020114600 AAUP-JENIN) / 19 January - 25 Jan Time left 0:34:4 On January 1, 2021, a U.S. firm sold equipment to a foreign firm for 50,000 FC, to be received on March 1 in FC. The spot rate was 1 FC = $1.50 on January 1 and 1 FC = $1.65 on March 1. To protect themselves from exchange rate changes, the U.S. firm entered into a forward exchange contract on January 1 to sell FC on March 1 for $1.52. the journal entry for a US. firm on 1.1.2021 includes: a. Credit to sales $75,000 O b. Debit to sales $75,000 Oc Debit to cash $75,000 O d. Credit to cash 575,000. ge Next page i W LG F8 FIO F11 F12 7Y 84 0