What amount of foreign exchange gain, Accounting Basics

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What amount of foreign exchange gain

A U.S. corporation sold inventory on credit to a British company on Apr 8, 2011. The U.S. corp received payment of 35,00 British pounds on May 8, 2011. THe exchange rate was £1= $1.54 on Apr 8 and £1 = $1.43 on May 8. What amount of foreign exchange gain or loss should be recognized?

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Accounting Basics: What amount of foreign exchange gain

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Accounting Basics: What amount of foreign exchange gain

Reference No:- TGS0698172

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Recent Questions Asked Accounting Basics

Q : What price should the investor offer

Q : How much work is required

Q : Write an equation for the rate of the canoe downstream

Q : What amount should goodwill be recorded

Q : What amount of foreign exchange gain

Q : What must be the temperature of the heat source

Q : Identify and discuss the controls for the sales

Q : Discuss some of the benefits

Q : Calculate return if bank compounds anually

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Ask an Expert for Answer!!

Accounting Basics: What amount of foreign exchange gain

Reference No:- TGS0698172

Recent Questions Asked Accounting Basics

Q : What price should the investor offer

Q : How much work is required

Q : Write an equation for the rate of the canoe downstream

Q : What amount should goodwill be recorded

Q : What amount of foreign exchange gain

Q : What must be the temperature of the heat source

Q : Identify and discuss the controls for the sales

Q : Discuss some of the benefits

Q : Calculate return if bank compounds anually

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