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:

Primary A1 Component

The initial segment of the auditory cortex that processes basic auditory information.

Sometimes-Opponent-Process Theory

A theory suggesting emotional reactions are followed by opposite emotional states; initially applied to psychological explanations of drug addiction.

Unconditioned Stimulus

A stimulus that naturally triggers a response without the need for prior learning.

Unconditioned Responses

Automatic, reflexive reactions to specific stimuli that are not learned, such as jerking your hand away from a hot surface.