Multiple Choice
Assume that Barun agrees to purchase US$500,000 for C$550,000 on January 15,2018.The exchange rate at year-end is US$1 = C$0.95 and the January 15,2018 exchange rate is US$1 = C$0.97.What journal entry is required at Jan 15,2018?
A) $10,000 gain.
B) $10,000 loss.
C) $75,000 gain.
D) $75,000 loss.
Correct Answer:
Verified
Correct Answer:
Verified
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