ABC Inc. is a Canadian company that reports its results in Canadian dollars. The company sold equipment to a customer in the U.S. for $95,000 US on January 1, 2013 when the exchange rate was $1 CDN = $0.95 US. The client received the equipment on January 31^st, 2013 and promptly wired the required payment to ABC Inc. On January 31, 2013, $1 CDN = $0.96 US.
Prepare ABC Inc's journal entries with respect to this transaction, assuming that the receivable was not hedged. Ignore the cost of the equipment.

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The Answer of ABC Inc. is a Canadian company that reports its results in Canadian dollars. The company sold equipment to a customer in the U.S. for $95,000 US on January 1, 2013 when the exchange rate was $1 CDN = $0.95 US. The client received the equipment on January 31^st, 2013 and promptly wired the required payment to ABC Inc. On January 31, 2013, $1 CDN = $0.96 US. Prepare ABC Inc's journal entries with respect to this transaction, assuming that the receivable was not hedged. Ignore the cost of the equipment.

ABC Inc Is a Canadian Company That Reports Its Results in in Canadian