STEP 13- On 1/6/2014 (when the exchange rate was: 1 sterling pound=2 US$) a British company purchased and imported goods from American exporter for 1,500,000 US$, to be paid in 1/6/2015. In 31/12/2014 (the exchange rate was: 1 sterling pound= 2.5 US$). The journal entry in the books of the American company on 31/12/20104 is: A-Debit: Inventories1000,000SP. Credit Accounts Payable 1000,000SP B- No entry C- Debit: Inventories500,000SP, Credit: Accounts Payable500,000SP D- Debit Accounts Receivable1000,000$, Credit: Sales1000,000$ 14- On 1/6/2014 (when the exchange rate was: 1 Sterling Pound= 2 US$) a British company purchased and imported goods from American exporter for 1,000,000 US$, to be paid in 1/6/2015. In 31/12/2014 (the exchange rate was: 1 sterling pound=2.5 US$). In 2014, The British company should recognize exchange rate gain or loss with the amount of: A- Gain 100,000SP B-LOSS 200.000$, C-Zero, D- Gain 150,000$ E- None of the above as income cash flores