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On December 20, 2017, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 175,000 ostras.
On December 20, 2017, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 175,000 ostras. Payment is received on January 10, 2018. Currency exchange rates for 1 ostra are as follows:
December 20, 2017 | $ | 1.27 |
December 31, 2017 | 1.24 | |
January 10, 2018 | 1.20 | |
How does the fluctuation in exchange rates affect Butanta's 2017 income statement?
How does the fluctuation in exchange rates affect Butanta's 2018 income statement?
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