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XYZ Ltd, which is using VND to record its transactions, obtained a long-term loan of US$100,000 at the beginning of 2009 when the exchange rate
XYZ Ltd, which is using VND to record its transactions, obtained a long-term loan of US$100,000 at the beginning of 2009 when the exchange rate was VND/US$ = 18,000. The loan is to be repaid in full in 2014. As at 31 Dec 2009 and 31 Dec 2010, the exchange rate was 19,000 and 20,000 respectively. Determine journal entries.
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