Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The U.S Company, In the month of January 15 sold machinery on account to a retailer Australia. The invoice price was 250,000 US dollars and

image text in transcribed
The U.S Company, In the month of January 15 sold machinery on account to a retailer Australia. The invoice price was 250,000 US dollars and the exchange rate for the Australia dollar was $0.576. 144,000$ Select one: O a. Accounts receivable A/c Dr Sales A/c Cr 144,000$ 144,000$ O b. Cash A/c Dr Sales A/c Cr 144,000$ 250,000$ O c. Cash A/c Dr Sales A/c Cr 250,000$ d. Accounts Receivable 250,000$ Sales 250,000$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Brinks Modern Internal Auditing A Common Body Of Knowledge

Authors: Robert R. Moeller

7th Edition

0470293039, 978-0470293034

More Books

Students also viewed these Accounting questions

Question

What are the primary reasons for holding inventory?

Answered: 1 week ago