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Business, 06.07.2019 02:20 haleybug6

Lawrence company, a u. s. company, ordered parts costing 1,000,000 thailand bahts from a foreign supplier on july 7 when the spot rate was $.025 per baht. a one-month forward contract was signed on that date to purchase 1,000,000 bahts at a rate of $.027. the forward contract is properly designated as a fair value hedge of the 1,000,000 baht firm commitment. on august 7, when the parts are received, the spot rate is $.028. what is the amount of accounts payable that will be paid at this date

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