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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Related Book For
Advanced Accounting
ISBN: 9780073379456
9th Edition
Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle
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