Question

Exercise 12-2 During December of the current year, Teletex Systems, Inc., a company based in Seattle, Washington, entered into the following transactions: Dec. 10 12 Sold seven office computers to a company located in Colombia for 7,992,000 pesos. On this date, the spot rate was 360 pesos per U.S. dollar. Purchased computer chips from a company domiciled in Taiwan. The contract was denominated in 450,000 Taiwan dollars. The direct exchange spot rate on this date was $0.0398. (a) Your answer is correct. Prepare journal entries to record the transactions above on the books of Teletex Systems, Inc. The company uses a periodic inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 10 TAccounts Receivable 222001 Sales 22200 Dec. 12 Purchases 17910 Accounts Payable 17910

The answer above was given in a prior post but it was incorrect as well. The way i understand the question is that if the company sold seven office computers for 7,992,000 dollars, what would the entry look like. However, that didnt work.