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On Dec. 2, American company sold goods to British customer for 300,000 Pounds sterling. Exchange rates are listed below. 2-Dec $1.70 Sale 31-Dec $1.65 F/S
On Dec. 2, American company sold goods to British customer for 300,000 Pounds sterling. Exchange rates are listed below. 2-Dec $1.70 Sale 31-Dec $1.65 F/S prep. 10-Jan $1.75 Payment At December 31, the financial statements include which of the following:
a. A/R $510,000
b. A/R $510,000 and Unrealized Loss of $15,000
c. A/R $495,000
d. A/R $495,000 and Unrealized Loss of $15,000
e. A/R $525,000 f. A/R $525,000 and Unrealized Gain of $15,000
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