ABC company has made an export contract of 25.000 $ with the foreign German company X. The method of payment for exports is cash export. It has been reported that the export price has come to the company's account at the exchange rate of 4.60 TL. The amount in advance has been posted. Which is the registration to be made?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter13: Marketable Securities And Derivatives
Section: Chapter Questions
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13 - ABC company has made an export contract of 25.000 $ with the foreign German company X. The method of payment for exports is cash export. It has been reported that the export price has come to the company's account at the exchange rate of 4.60 TL. The amount in advance has been posted. Which is the registration to be made?
A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT

159 02 Advance Abroad 115,000

120 02 International Buyers 115,000


B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT

340 02 Advance Abroad Received 115,000

120 02 International Buyers 115,000


C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT

102 02 Z Bank DTH 25.000

340 02 Advance Abroad Received 25.000


D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT

102 02 Z Bank DTH 115.000

340 02 Advance Abroad Received 115,000


E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT

340 02 Advance Abroad Received 115,000

102 02 Z Bank DTH 115.000

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