On June 15,Copps Stores sold twenty-five computers,on account,to a company located in Argentina for 3,000,000 pesos.On that date the peso is worth $0.079.On July 15,when the peso was worth $0.070,payment was received.The journal entry on July 15 by Copps Stores would include a:
A)credit to Cash $237,000.
B)credit to Accounts Receivable $210,000.
C)debit to Foreign-Currency Transaction Loss $27,000.
D)credit to Sales $210,000.

Question

Quizplus · Accepted Answer

The Answer of On June 15,Copps Stores sold twenty-five computers,on account,to a company located in Argentina for 3,000,000 pesos.On that date the peso is worth $0.079.On July 15,when the peso was worth $0.070,payment was received.The journal entry on July 15 by Copps Stores would include a:
A)credit to Cash $237,000.
B)credit to Accounts Receivable $210,000.
C)debit to Foreign-Currency Transaction Loss $27,000.
D)credit to Sales $210,000.

On June 15,Copps Stores Sold Twenty-Five Computers,on Account,to a Company