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 $0.576. Select one: a. Cash A/c Dr 144,000$ Sales A/c Cr 144,000$ b. Cash A/c Dr 250,000$ Sales A/c Cr 250,000$ c. Accounts Receivable 250,000$ Sales 250,000$ d. Accounts receivable A/c Dr 144,000$ Sales A/c Cr 144,000$

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 $0.576. Select one: a. Cash A/c Dr 144,000$ Sales A/c Cr 144,000$ b. Cash A/c Dr 250,000$ Sales A/c Cr 250,000$ c. Accounts Receivable 250,000$ Sales 250,000$ d. Accounts receivable A/c Dr 144,000$ Sales A/c Cr 144,000$

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter9: Taxation Of International Transactions

Section: Chapter Questions

Problem 27P

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The US 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 $0.576. Select one: a. Cash A/c Dr 250,000$ Sales A/c Cr 250,000$ b. Accounts Receivable 250,000$ Sales 250,000$ 144,000$ 144,000$ c. Accounts receivable A/c Dr Sales A/c Cr d. Cash A/c Dr 144,000$ 144,000$ Sales A/c Cr
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