Question
On October 25, 2020, a U.S. company sold merchandise on credit to a customer in Spain at an invoice price of 1,000, when the exchange
On October 25, 2020, a U.S. company sold merchandise on credit to a customer in Spain at an invoice price of 1,000, when the exchange rate was $1.25/. On December 31, 2020, the U.S. company's year-end, the exchange rate was $1.257/. On February 1, 2021, when the exchange rate was 1.23, the U.S. company received 1,000 in payment for the merchandise. In 2020, the U.S. company reports sales revenue of
| A. | $1,250 | |
| B. | $1,257 | |
| C. | $1,000 | |
| D. | $1,230 |
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
9th Edition
9781119754053
