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STatiana [176]
3 years ago
8

On September 3, 20X8, Jackson Corporation purchases goods for a U.S. dollar equivalent of $17,000 from a Swiss company. The tran

saction is denominated in Swiss francs (SFr). The payment is made on October 10. The exchange rates were: September 3: 1 Swiss franc = $0.85 October 10: 1 Swiss franc = 0.90 What entry is required to revalue foreign currency payable to U.S. dollar equivalent value on October 10?

Business
1 answer:
AfilCa [17]3 years ago
4 0

Answer:

Foreign currency transaction loss : $1000

Account payable : $1000

Explanation:

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