On June 15,Blonski Computer Company Sold Twenty-Five Computers on Account

question 39

Multiple Choice

On June 15,Blonski Computer Company 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.Blonski Computer Company uses the perpetual inventory system.Ignoring Cost of Goods Sold,the journal entry on June 15 by Blonski Computer Company would be:

• A)debit Accounts Receivable $237,000 and credit Sales Revenue $237,000.
• B)debit Accounts Receivable $210,000 and credit Sales Revenue $210,000.
• C)debit Accounts Receivable $210,000,debit to Foreign-Currency Transaction Loss $27,000 and credit Sales Revenue $237,000.
• D)debit Accounts Receivable $237,000,credit Sales $210,000,and credit Foreign Currency Transaction Gain $27,000.

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Definitions:

Productivity

The capacity of a comparison to suggest consequences that go beyond those mentioned in the initial comparison.

Pattern Recognition

The identification of regularities or recurring sequences in data or objects, often used in machine learning and cognitive psychology.

Comparative Inference

The process of drawing conclusions by comparing different sets of data or situations.

Essential Features

The inherent or indispensable qualities, characteristics, or attributes that define the nature or identity of something.