On June 15, Central Computers, Inc

question 83

Multiple Choice

On June 15, Central Computers, Inc. 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 to record the sale on June 15 would include a:

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

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Definitions:

National Parks

Protected areas of natural significance designated by national governments for conservation purposes, and for the enjoyment and recreation of the public.

Marginal Benefit

The additional satisfaction or utility gained from consuming or producing one more unit of a good or service.

Pollution Emission Permits

Licenses or allowances issued by governments that grant the holder the right to emit a specific quantity of pollutants into the environment.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.