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Forward Contract Homework To record the purchase of inventories for 150,000 when the exchange rate is $1.30:1. Company purchases forward contract to buy 150,000 at
Forward Contract Homework |
To record the purchase of inventories for 150,000 when the exchange rate is $1.30:1. |
Company purchases forward contract to buy 150,000 at $1.35:1. |
Exchange rate at maturity is $1.45:1.
Required: (Answers must be TYPED)
Prepare all the journal entries at the inception of the contract through the maturity of the contract. |
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