A US company sells goods to an Italian importer on November 1, 2017 Assume that the US
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Question:
A US company sells goods to an Italian importer on November 1, 2017
Assume that the US company closes its books monthly. and the sales value of €100,000 is to be received on January 20, 2018.
The following are the relevant exchange rates: Spot rates per € : Nov. 1:$1.29, Nov. 30:$1.27, Dec. 31:$1.30, Jan. 20:$1.35
Make the necessary journal entries.
Expert Answer:
Answer Amount Exchange Rate Amount Date Exchange ProfitLoss 100000 129 129000 1No... View the full answer
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