The Following Table Shows the Number of U

question 18

Multiple Choice

The following table shows the number of U.S. dollars required to buy one Mexican peso and the number of U.S. dollars required to buy one Japanese yen between June 1, 2016, and September 1, 2016. Use this table to answer the following questions.
-On June 1,2016,Samantha bought a yoga mat for 250 Mexican pesos in Playa del Carmen,Mexico.Because she only had Japanese yen,she needed to exchange her Japanese yen at a nearby money-exchange kiosk in order to get the 250 Mexican pesos she used for the purchase.The kiosk is able to buy and sell U.S.dollars,Mexican pesos,and Japanese yen at the exchange rates shown in the table.Approximately how much did the yoga mat cost Samantha in terms of Japanese yen?

• A) 0.2136
• B) 1,121
• C) 3,151
• D) 1,411
• E) 292,609

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Definitions:

Adjustment

Entries made in preparing financial statements to allocate expenses or revenues to the appropriate accounting period.

Aging Report

A financial report that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding.

Allowance for Doubtful Accounts

This is a contra-asset account that reduces the total amount of accounts receivable reported on the balance sheet, reflecting the estimate of non-collectible amounts due to credit sales.

Uncollectible Accounts

Accounts receivable that are considered unlikely to be collected and are therefore written off as a loss.