Assume that Outreach (in E6-10) hedged the 11,000 (Canadian dollar) receivable by borrowing 11,000 Canadian dollars from
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Assume that Outreach (in E6-10) hedged the 11,000 (Canadian dollar) receivable by borrowing 11,000 Canadian dollars from a Canadian bank on January 1, 2012. Use journal entries to demonstrate how this transaction removes Outreach’s exposure to the risk of fluctuating exchange rate. Explain.
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January 1 2012 Notes Receivable A 10450 Sales R SE 10450 Made sale in exchange for a note Cash A 104...View the full answer
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