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Please solve for accounts receivable. Voltac Corporation (a U.S.-based company has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory
Please solve for accounts receivable.
Voltac Corporation (a U.S.-based company has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 115,eee pesos on credit. May 1 Sold 80 percent of the inventory for 95,880 pesos on credit. August 1 Collected 77,5ee pesos from customers. September 1 Paid 67,500 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 U.S. Dollar per Peso $ 0.24 2.25 0.26 8.27 0.28 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a 5.520 22.080 b s c $ 23.750 Inventory Cost of goods sold Sales Accounts receivable Accounts payable Cash d e $ $ 13.300 1.925 fStep by Step Solution
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