A U.S. exporter has a Thai baht account receivable resulting from an export sale on April 1

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A U.S. exporter has a Thai baht account receivable resulting from an export sale on April 1 to a cus¬ tomer in Thailand. The exporter signed a forward contract on April 1 to sell Thai baht and designated it as a cash flow hedge of a recognized Thai baht receivable. The spot rate was $0,022 on that date, and the forward rate was $0,023. Which of the following did the U.S. exporter report in net income? LO9

a. Discount expense.

b. Discount revenue.

c. Premium expense.

d. Premium revenue.

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Advanced Accounting

ISBN: 9780073379456

9th Edition

Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle

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