On June 15, Central Computers, Inc

question 14

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 July 15 collection on account 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.

---

Definitions:

Pay Grade Categories

Divisions or levels in a pay scale that determine the salary range for different positions within an organization.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.

Factor Analysis

A statistical method used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.

Total Compensation System

The complete package of financial and non-financial benefits provided to employees, including salaries, bonuses, health insurance, and retirement plans.