Grand Ltd . is a Canadian company that had the following transactions in 2 0 X 7
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Question:
Grand Ltd is a Canadian company that had the following transactions in X:
Sold goods to a customer in Belgium on November for euros.
Sold goods to a US customer on November for US$
Sold goods on December, to a British customer for euros.
On December, the customer in transaction a paid.
At yearend, the other two accounts receivable were still outstanding.
EXCHANGE RATES
Canadian Equivalencies Euro US$
November
December
December
December
Required:
Calculate the exchange gain or loss to be reported in XDo not round intermediate calculations.
Calculate the accounts receivable on the December X statement of financial position.
Calculate the sales revenue to be recorded from the transactions listed above.
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