Order to manage its exposed foreign currency receivable

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Reference no: EM13777471

My way company sold equipment to a canadian company for 100,000 canadian dollars on January 1, 20x9 with settlement to be in 60 days. on the date, alman entered into a 60-day forward contract to sell 100,000 canadian dollars at a forward rate of 1 C$ = $.94 in order to manage its exposed foreign currency receivable. The forward contract is not designated as a hedge. The spot rates were:

Reference no: EM13777471

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Order to manage its exposed foreign currency receivable : My way company sold equipment to a canadian company for 100,000 canadian dollars on January 1, 20x9 with settlement to be in 60 days. on the date, alman entered into a 60-day forward contract to sell 100,000 canadian dollars at a forward rate of 1 C$..

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