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Business, 05.05.2020 07:20 sadiemontoya

Hugh, Inc. purchased merchandise for 300,000 FC from a British vendor on November 30, 2018. Payment in British pounds is due January 31, 2019. Exchange rates to purchase 1 FC is as follows: Nov. 30, 2018Dec. 31, 2018 Spot $1.65 $1.62 30 Day $1.64 $1.59 60 Day $1.63 $1.56 In the December 31, 2018 income statement, what amount should Hugh report as foreign exchange gain from this transaction

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Hugh, Inc. purchased merchandise for 300,000 FC from a British vendor on November 30, 2018. Payment...

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