On March 1,20X8,Wilson Corporation sold goods for a U.S.dollar equivalent of $31,000 to a Thai company.The transaction is denominated in Thai baht.The payment is received on May 10.The exchange rates were:

What entry is required to revalue foreign currency payable to U.S.dollar equivalent value on May 10?

Question

On March 1,20X8,Wilson Corporation sold goods for a U.S.dollar equivalent of $31,000 to a Thai company.The transaction is denominated in Thai baht.The payment is received on May 10.The exchange rates were:

What entry is required to revalue foreign currency payable to U.S.dollar equivalent value on May 10?
On March 1,20X8,Wilson Corporation sold goods for a U.S.dollar equivalent of $31,000 to a Thai company.The transaction is denominated in Thai baht.The payment is received on May 10.The exchange rates were: What entry is required to revalue foreign currency payable to U.S.dollar equivalent value on May 10? A) Option A B) Option B C) Option C D) Option D

What entry is required to revalue foreign currency payable to U.S.dollar equivalent value on May 10?

Quizplus · Accepted Answer

The Answer is B

On March 1,20X8,Wilson Corporation Sold Goods for a U