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Foreign Currency Transaction Note 9 ( b ) On 1 January 2 0 X 9 a bulk purchase of shower products were purchased from a
Foreign Currency Transaction Note b
On January X a bulk purchase of shower products were purchased from a company based in Switzerland for EEuros on credit. On March X half of this E was paid, the remainder still owed at the year end date.
The exchange rate was as follows:
January X; E to
March X; E to
March X; E to
This transaction has not yet been accounted for. Any gain or loss on exchange should be posted to cost of sales. The shower products would also be treated as cost of sales. Cost of sales in TRIAL BAlance at March dr
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