On April 1, 2020, WWW Company sold merchandise worth a total of 100,000 foreign currency to its
Fantastic news! We've Found the answer you've been seeking!
Question:
On April 1, 2020, WWW Company sold merchandise worth a total of 100,000 foreign currency to its foreign customer, receivable within 30 days. On April 30, 2020, WWW received payment from the customer. The following information of spot rates is provided:
| Buying | Selling |
April 1, 2020 | 44.03 | 44.15 |
April 30, 2020 | 44.10 | 44.20 |
How much is the foreign exchange gain?
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Posted Date: