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please show all work. thank you Chico U.S. Co. purchased rice from China for 100,000 renminbi (r) on Nov. 1, 2025. Payment is due on
please show all work. thank you
Chico U.S. Co. purchased rice from China for 100,000 renminbi (r) on Nov. 1, 2025. Payment is due on Jan. 30, 2026. Chico also entered into a 90 day forward contract with an exchange broker to purchase 100,000 renminbi. The rates were as follows: a) Record all journal entries on the transaction, balance sheet and ettlement dates. Show computations. b) What is Chico's overall gain or loss from these transactions? Show computations Step by Step Solution
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