On January 18, 20Y4, Sentinel Inc., a U.S. company, sold merchandise costing $180,000 to Outback Expeditions, located in Perth, Australia, for $650,000 Australian dollars (AUD). Outback Expeditions pays on February 9, 20Y4, in AUD.
a. Assuming an exchange rate of $0.70 USD per AUD on January 18, journalize the entry by Sentinel Inc. to record the sale.
b. Assuming an exchange rate of $0.75 USD per AUD on February 9, journalize the entry by Sentinel Inc. for receipt of the $650,000 AUD.
c. Assuming an exchange rate of $0.69 USD per AUD on February 9, journalize the entry by Sentinel Inc. for receipt of the $650,000 AUD.