Mother Co., a U.S. corporation, sold * inventory on credit to a British company on April 1, 2011. Mother received paymen

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Mother Co A U S Corporation Sold Inventory On Credit To A British Company On April 1 2011 Mother Received Paymen 1 (87.09 KiB) Viewed 15 times

Mother Co., a U.S. corporation, sold * inventory on credit to a British company on April 1, 2011. Mother received payment of 20,000 British pounds on May 1, 2011. The exchange rate was £1 = $1.54 on April 1 and £1 = $1.49 on May 1. For what should be debited on April 1? Sales $30,800 Account Receivable £20,000 Accounts Payable $30,000 Accounts receivable $30,800 O