On June 15, Copps Stores sold twenty-five computers, on account, to a company located in Argentina for 2,600,000 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 on July 15 by Copps Stores would include a:
A)credit to Cash $205,400.
B)credit to Accounts Receivable $182,000.
C)debit to Foreign-Currency Transaction Loss $23,400.
D)credit to Sales $182,000.

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The Answer of On June 15, Copps Stores sold twenty-five computers, on account, to a company located in Argentina for 2,600,000 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 on July 15 by Copps Stores would include a:
A)credit to Cash $205,400.
B)credit to Accounts Receivable $182,000.
C)debit to Foreign-Currency Transaction Loss $23,400.
D)credit to Sales $182,000.

On June 15, Copps Stores Sold Twenty-Five Computers, on Account