TOPIC 7 - FOREIGN CURRENCY TRANSACTIONS AND FORWARD EXCHANGE CONTRACTS uestion 23 ot yet nswered Twinkle Ltd sold inventory to a customer in Singapore for SGD$100,000, with the customer invoiced in Singapore dollars. A 10% deposit was paid on 12 June 20x3 at the time of order. The order was shipped and invoiced on 19 June, and the customer paid the balance of the invoice on 15 July. Twinkle Ltd has a 30 June reporting date. arked out of 00 The relevant exchange rates are: Flag uestion SG $ $ 12 June 20X3 19 June 20X3 1 1 1 1.25 1.21 30 June 20X3 1.19 15 July 20X3 1 1.31 Choose the option that correctly shows the transaction for the receipt of cash from the customer be recorded on the 15 July 20X3. SELECT ONE CORRECT RESPONSE Select one: a. None of the options are correct O b. DR CR Date Description Choose the option that correctly shows the transaction for the receipt of cash from the customer be recorded on the 15 July 20X3. SELECT ONE CORRECT RESPONSE Select one: a. None of the options are correct O b. DR CR Date Description $ $ 15.07.X3 Cash 68,702 6,928 15.07.X3 FX loss 15.07.X3 Trade receivables 75,630 Oc. DR CR Date Description $ $ Cash 15.07.X3 15.07.X3 76,336 7,698 FX loss 15.07.X3 Trade receivables 84,034 O d. DR CR Date Description $ $ 15.07.X3 Cash 68,702 O c. DR CR Date Description $ $ 15.07.X3 Cash 76,336 7,698 15.07.X3 FX loss 15.07.X3 Trade receivables 84,034 O d. DR CR Date Description $ $ 15.07.X3 Cash 68,702 15.07.X3 FX gain 6,928 15.07.X3 Trade receivables 61,774 e. DR CR Date Description $ $ 15.07.X3 Cash 76,336 15.07.X3 FX gain 7,698 15.07.X3 Trade receivables 68,638