1.) A U.S. company purchases (imports) goods from a Japanese company for 10,000,000 JPY, with payment due in 30 days. The current exchange rate is 110 JPY/USD.

What is the amount of the payable that the U.S. company records (in USD)?

Assume that the U.S. company waits 30 days to pay. In 30 days, the exchange rate is 100 JPY/USD. Which currency depreciated?

How much (in USD) does the U.S. company pay?

What is the difference between the amount of the payable that the U.S. company recorded and the amount it paid? Is this a gain or loss?

What was the percentage change in the USD?

What was the percentage change in the JPY?