Page 1 of 1
Mother Co., a U.S. corporation, sold inventory on credit to a British company on December 1, 2011. Mother received payme
Posted: Thu May 26, 2022 7:17 am
by answerhappygod
- Mother Co A U S Corporation Sold Inventory On Credit To A British Company On December 1 2011 Mother Received Payme 1 (89.98 KiB) Viewed 18 times
Mother Co., a U.S. corporation, sold inventory on credit to a British
company on December 1, 2011. Mother received payment of 20,000 British pounds on February 1, 2012. The exchange rate was £1 = $1.54 on Dec 1, 2011; £1 = $1.49 on Dec 31, 2011 and £1 = 1.52 on Feb 1,2012. For what amount should Account receivable be credited on Dec 31, 2011? $30,800 O £20,671 O $1,000 $ 29,800