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How much would accounts receivable need

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Question - Nagata, Inc., a domestic entity, sold goods to a British company on 6/10 with the transaction denominated in Pounds. The sales price of the goods was £200,000, and the cost of the goods was $80,000. The receivable is payable in full on 7/10, and Company XYZ prepares their financials monthly. Relevant exchanges rates are 6/10 £1 = $1.30, 6/30 £1 = $1.25, and 7/10 £1 = $1.35. Based on this information, how much would accounts receivable need to be revalued by on 6/30?

Reference no: EM133141416

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