On December 15, a company enters into a foreign currency forward to buy 200,000 at C$1.32 per
Question:
On December 15, a company enters into a foreign currency forward to buy €200,000 at C$1.32 per euro in 30 days. The exchange rate on the day of the company’s year-end of December 31 was C$1.30:€1.
Required:
Record the journal entries related to this forward contract.
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1 The company records a C200000 exchange gain on the acquis...View the full answer
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