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Question 5 ( 2 points ) : Quentin Ltd . , a Canadian company, sold inventory to a company in London, England for 1 ,
Question points:
Quentin Ltd a Canadian company, sold inventory to a company in London, England for which translated to $ Cdn Three months later, Quentin received full payment on the account receivable, which at the time was valued at $ Cdn How should the resulting difference of $ Cdn between the date of sale and the date payment is received be treated?
The options provided are:
As an increase in sales
As a decrease in cost of sales
As a decrease in sales
As a realized gain in net income
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