Accounting Question Foreign Currency Transactions Calculate the impact on income statement if a U S company made a sale in Japan of JPY 1 0 million when the exchange rate was 1 1 0 JPY USD and the rate changed to 1 0 8 JPY USD at the time of cash collection

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Accounting Question: Foreign Currency Transactions Calculate the impact on income statement if a U . S . company made a sale in Japan of JPY

Accounting Question: Foreign Currency Transactions

Calculate the impact on income statement if a U

.

.

company made a sale in Japan of JPY

10

million when the exchange rate was

110

JPY

/

USD and the rate changed to

108

JPY

/

USD at the time of cash collection.

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