Norton Co., a U.S. corporation, sold inventory on December 1, 2018, with payment of 10,000 British pounds to be received in sixty days. The pertinent exchange rates were as follows: Dec. 1Spot rate:$1.7241 Dec. 31Spot rate:$1.8182 Jan. 30Spot rate:$1.6666 ?For what amount should Sales be credited on December 1?
A. $18,182.
B. $ 5,500.
C. $16,949.
D. $17,241.
E. $16,667.
Answer: D
Business
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