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never [62]
1 year ago
10

on june 19, a u.s. company sold and delivered merchandise on a 30-day account to a german corporation for 190,000 euros. on july

19, the german company paid the u.s. company in full. relevant currency rates were: june 19 july 19 spot rate $1.201 $1.200 30-day forward rate 1.210 1.217 what amount should the u.s. company record on june 19 as an account receivable for its sale to the german company?
Business
1 answer:
Lesechka [4]1 year ago
8 0

On June 19 the accounts receivable should be recorded at the spot rate: $228,190 ($190,000 Euros * $1.201), which is the rate at which the Euro and the US Dollar were being exchanged at the time.

Many US-based enterprises sell goods to companies abroad. Depending on the discussions and the circumstances surrounding the sale, these sales may be made in US dollars or in another currency. If the sale is made in a foreign currency, the US-based company will be responsible for any fluctuations in the exchange rate from the time the sale and receivable are recorded until the time the foreign currency is paid for the related foreign currency-related receivable.

The accounts receivable should be recorded (converted from Euros to US Dollars) at the spot rate on June 19: 190,000 Euros * $1.201, which is the exchange rate at that time between the Euro and the US Dollar, equals $228,190.

To learn more about Accounts Receivables, refer to this link:

brainly.com/question/14032135

#SPJ4

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