=+1. A 20 year loan of US$ 1,000,000 was obtained from an American bank on 1 August
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=+1. A 20 year loan of US$ 1,000,000 was obtained from an American bank on 1 August 20X8.
The proceeds of the loan were remitted when the exchange rate was US$1.75 = €1.
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Related Book For 
International Financial Accounting And Reporting
ISBN: 9780903854726
2nd Edition
Authors: Ciaran Connolly
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