Business, 02.10.2019 04:00 lagarde

Vino veritas company, a u. s.-based importer of wines and spirits, placed an order with a french supplier for 1,500 cases of wine at a price of 260 euros per case. the total purchase price is 390,000 euros. relevant exchange rates for the euro are as follows: vino veritas company, a u. s.–based importer of wines and spirits, placed an order with a french supplier for 1,400 cases of wine at a price of 250 euros per case. the total purchase price is 350,000 euros. relevant exchange rates for the euro are as follows: date spot rate forward rate call option premium september 15, 2015 $ 1.25 $ 1.31 $ 0.060 september 30, 2013 1.30 1.34 0.095 october 31, 2015 1.35 1.35 0.100 vino veritas company has an incremental borrowing rate of 12 percent (1 percent per month) and closes the books and prepares financial statements at september 30.assume that the wine arrived on september 15, 2015, and the company made payment on october 31, 2015. on september 15, vino veritas entered into a 45-day forward contract to purchase 350,000 euros. it properly designated the forward contract as a fair value hedge of a foreign currency payable. prepare journal entries to account for the import purchase and foreign currency forward contract. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your present value interest factor to four decimal places. round your answers to 2 decimal places.)

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