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What amount would the long term receivables be presented

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Problem 1: BENNETT corporation translates foreign currency amounts at December 31, 2018. At that time, Bennett had foreign subsidiaries with 750,000 local currency units in long-term receivables and 1,200,000 LCU in long-term debt. The rate of exchange in effect when the specific transactions occurred involving those foreign currency amounts was 2 LCU to P1. The rate of exchange in effect at December 31, 2018 was 1.5 LCU to P1. At what amount would the long term receivables be presented in the financial statements on December 31, 2018?

Reference no: EM132756576

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