On January 1, 2017, Ginseng Inc. entered into a forward contract to purchase U.S. $6,000 for $6,336
Question:
(a) Prepare only the necessary journal entries on January 1 and 15, 2017.
(b) Explain which financial risks the trans- action exposes the entity to.
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Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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