Business, 31.05.2020 04:59 tdyson3p6xvtu
On November 1, 2019, Ambrose Company, a US firm, sold merchandise to a foreign customer for 100,000 FC with payment to be received on January 31, 2020. At the date of the sale, Ambrose entered into a three-month forward contract to sell 100,000 FC on January 31, 2020. The company designates the forward contract as a cash flow hedge of the foreign currency receivable. Relevant exchange rates are as follows: Date Spot Rate Forward Rate to January 31, 2020 November 1, 2019 December 31, 2019 January 31, 2020 $0.53 $0.50 $0.49 $0.52 $0.48 N/A 42. What amount should sales to credited for on November 1, 2019?
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On November 1, 2019, Ambrose Company, a US firm, sold merchandise to a foreign customer for 100,000...
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