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Chapter 15, Problem 6BPSB
To determine

Foreign Exchange Rate:

Companies who deal with international customer may sell or receive cash in foreign currency. The value of the foreign currency in terms of local currency is called foreign currency.


1. Prepare journal entries for the Datamix transactions and adjusting entries.

2. Compute the foreign exchange gain or loss to be reported on Datamix’s 2015 income statement.

3. What actions might Datamix consider to reduce its risk of foreign exchange gains or losses?

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The Exchange Rate and the Foreign Exchange Market [AP Macroeconomics Explained]; Author: Heimler's History;https://www.youtube.com/watch?v=JsKLBpy6cEc;License: Standard Youtube License