On December 5, 20X8, Rara sold inventories to a foreign company at a price of $2,000,...

 

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On December 5, 20X8, Rara sold inventories to a foreign company at a price of $2,000, to be paid on February 5, 20X9. The transaction was denominated in USD ($). The spot rates were: $1= Rp15.250 at December 5, 20X8; $1= Rp15.200 at December 31, 20X8; and $1 = Rp15.050 at February 5, 20X9. Rara's fiscal year ends on December 31, and its reporting currency is the Rupiah (Rp). What was the balance of Accounts Receivable($) reported on Statement of Financial Position at December 31, 20X8? On December 5, 20X8, Rara sold inventories to a foreign company at a price of $2,000, to be paid on February 5, 20X9. The transaction was denominated in USD ($). The spot rates were: $1= Rp15.250 at December 5, 20X8; $1= Rp15.200 at December 31, 20X8; and $1 = Rp15.050 at February 5, 20X9. Rara's fiscal year ends on December 31, and its reporting currency is the Rupiah (Rp). What was the balance of Accounts Receivable($) reported on Statement of Financial Position at December 31, 20X8?

Answer rating: 100% (QA)

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