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On September 1,20X1,Brady Corp

Question 24

Multiple Choice

On September 1,20X1,Brady Corp.entered into a foreign exchange contract for speculative purposes by purchasing 50,000 deutsche marks for delivery in 60 days.The rates to exchange $1 for 1 deutsche mark follow:
On September 1,20X1,Brady Corp.entered into a foreign exchange contract for speculative purposes by purchasing 50,000 deutsche marks for delivery in 60 days.The rates to exchange $1 for 1 deutsche mark follow: In its September 30,20X1 income statement,what amount should Brady report as foreign exchange loss? A) $1,000 B) $2,500 C) $1,500 D) $500
In its September 30,20X1 income statement,what amount should Brady report as foreign exchange loss?


A) $1,000
B) $2,500
C) $1,500
D) $500

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