Bommarito Corp., a Swiss firm, bought merchandise from Trilis Company of New Brunswick on December 15, 2013 for 20,000 CHF payable on January 14, 2014. Trilis and Bommarito both close their books on December 31. The 20,000 CHF was paid on January 14, 2014. The exchange rates for CHF were:
December 15,2013 spot $\quad C \$ .9740$
December 15,2013 $\quad $30 day forward $\quad C \$ .9800$
December $31,2013 \quad \mathrm { C } \$ .9700$
December 31,2013 $\quad $14 day forward $\quad \mathrm { C } \$ 9730$
January $14,2014 \quad C \$ 9720$ Required:

Question

Bommarito Corp., a Swiss firm, bought merchandise from Trilis Company of New Brunswick on December 15, 2013 for 20,000 CHF payable on January 14, 2014. Trilis and Bommarito both close their books on December 31. The 20,000 CHF was paid on January 14, 2014. The exchange rates for CHF were:
 December 15,2013 spot $\quad C \$ .9740$
December 15,2013 $\quad $30 day forward $\quad C \$ .9800$ 
December $31,2013 \quad \mathrm { C } \$ .9700$
December 31,2013 $\quad $14 day forward $\quad \mathrm { C } \$ 9730$
January $14,2014 \quad C \$ 9720$  Required:

Quizplus · Accepted Answer

The Answer of Bommarito Corp., a Swiss firm, bought merchandise from Trilis Company of New Brunswick on December 15, 2013 for 20,000 CHF payable on January 14, 2014. Trilis and Bommarito both close their books on December 31. The 20,000 CHF was paid on January 14, 2014. The exchange rates for CHF were:
 December 15,2013 spot $\quad C \$ .9740$
December 15,2013 $\quad $30 day forward $\quad C \$ .9800$ 
December $31,2013 \quad \mathrm { C } \$ .9700$
December 31,2013 $\quad $14 day forward $\quad \mathrm { C } \$ 9730$
January $14,2014 \quad C \$ 9720$  Required:

Bommarito Corp C$.9740\quad C \$ .9740C$.9740 December 15,2013 \quad 30 Day Forward

Bommarito Corp $\quad C \$ .9740$ December 15,2013 $\quad$ 30 Day Forward