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Q1.1 Sohar Aluminum was asked to supply raw aluminum to United Kingdom (UK), thus making export sales to foreign customer. However, the UK Company
Q1.1 Sohar Aluminum was asked to supply raw aluminum to United Kingdom (UK), thus making export sales to foreign customer. However, the UK Company required Sohar Aluminum to bill the sales in British pound (), thus creating foreign currency sales for Sohar Aluminum. The first shipment of aluminum to UK company was invoiced at 100,000 with credit terms of 2/10, net 30. Required: a. If Sohar Aluminum were a British company, pass the journal entry to record this sale in .
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