Advanced Accounting Foreign Currency Transactions

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An explanation of the basic journal entries required when a U.S. company makes a credit sale in a foreign currency. Calculate Gains/Losses.
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Best explanation I have seen!! Thank you.

accountableliving
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I'm so confused. my textbook says that the adjustment at year end is an unrealized gain. Is the textbook or you wrong?

ladev
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What if on 31st dec, the rates flunctuate down and we get a loss on exchange? what gonna be its double entry? Btw nice job. Well explained

reazrujub
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Unrealized gains/losses are recorded to AOCI, no? Only realized gains/losses are recorded within Other Income/Expense on the P&L

julianzarins
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What is the entry if you received the payment in Euro and you are maintaining a Euro Account with your bank? What is the entry once you converted your Euro bank account to USD account? Will there be foreign currency exchange gain or loss also if you simply converted your euro deposit to usd deposit later?

llems