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West New York Corp. (a U.S.-based company) purchased parts from a Japanese customer on December 10, 2018, with payment of 10 million Japanese yen due

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West New York Corp. (a U.S.-based company) purchased parts from a Japanese customer on December 10, 2018, with payment of 10 million Japanese yen due on January 15, 2019. The following exchange rates applied:

image text in transcribed
Date Spot Rate Forward Rate to Jan. 15 December 10, 2018 $ .00095 00096 December 31, 2018 .00097 .00099 January 15, 2019 .00098 N/A Use Spot Rate

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