A U.S. company makes a sale to a foreign customer receivable in 30 days in the customer's currency. The sale would be recorded by the U.S. company on the date:

Question

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The sale would be recorded on the date of sale using the current dollar value. This is because the U.S. company would need to report the sale in its financial statements in U.S. dollars. They would use the exchange rate on the date of the sale to convert the foreign currency amount into U.S. dollars.

A US Company Makes a Sale to a Foreign Customer Receivable