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Johnson Company ( a U . S . - based company ) sells parts to a foreign customer on December 1 , 2 0 2
Johnson Company a USbased company sells parts to a foreign customer on December with payment of
dinars to be received on March Johnson enters into a forward contract on December to sell dinars
on March The forward contract is not designated as a hedge. Relevant exchange rates for the dinar on various
dates are as follows:
In its income statement for the year ended December Johnson should report a foreign currency transaction gain
of
$
$
$
$
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