Barter Corp. sold American telecommunications equipment to a British company for 740,000 pounds. On the...
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Barter Corp. sold American telecommunications equipment to a British company for 740,000 pounds. On the sale date, the exchange rate was $1.65 per British pound, but when Barter received payment from its customer, the exchange rate was $1.60 per pound. When the foreign receivable was collected, Barter Enterprises:
Multiple Choice Debited Cash for $37,000.
Credited Gain on Fluctuation of Foreign Currency for $37,000.
Debited Loss on Fluctuation of Foreign Currency for $37,000.
Credited Sales for $37,000. Can you please show the work. thank you.
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You can see the logs in the Dashboard.