Foreign Currency Transactions and Translations Flashcards by James Boyd | Brainscape

Q

Transaction Date

A

DR: Purchases
CR: Accounts Payable

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Q

Balance Sheet Date

A

DR: Accounts Payable
CR: Foreign Exchange Transaction gain (I/S)

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Q

Settlement Date

A

DR: Accounts Pauable
DR: Foreign Exchange Transaction Loss (I/S)
CR: Cash

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