Journal Entries-Speculation Using a Forward Contract Use the data given in Exercise 12-9, except assume that on
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Journal Entries-Speculation Using a Forward Contract Use the data given in Exercise 12-9, except assume that on November 1, Sitco Products entered into a 90-day forward contract to buy 900,000 Swedish kronas on January 30 for $.5085 per krona.
Required:
Prepare all necessary journal entries in regard to the forward contract.
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Nov 1 FC Receivable from Exchange Dealer 457650 Dollars Pa...View the full answer
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