The US Company, In the month of January 15 sold machinery onaccount to a retailer Australia. The invoice price was 250,000 USdollars and the exchange rate for the Australia dollar was $0.576.Select one:a. Cash A/c Dr250,000$Sales A/c Cr250,000$b. Accounts Receivable250,000$Sales250,000$144,000$144,000$c. Accounts receivable A/c DrSales A/c Crd. Cash A/c Dr144,000$144,000$Sales A/c Cr

Answer is given in Step 2 Below. To create Credit Sales journal entry, debit Accounts Receivable…

Answered: The US Company, In the month of January…

The US Company, In the month of January 15 sold machinery on account to a retailer Australia. The invoice price was 250,000 US dollars and the exchange rate for the Australia dollar was $0.576.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter9: Taxation Of International Transactions

Section: Chapter Questions

Problem 27P

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