We have in our balance sheet a liability of 1.000€ corresponding to a US supplier who invoiced us a 1.000$ purchase. On the 31st December the exchange rate is 1$=0,99 euros. What is the entry we should post?

Question

Answer

10  Exchange losses  (668)  a  Trade payables foreign currency (4004)    10

Answer

1.000 (4004) Trade payables foreign currency     Banks     (572) 1.000

Answer

10    Trade payables foreign currency (4004)     Exchange gains (768)       10

Answer

I do not know the answer

Answer

We will do nothing until we pay the debt

Crowdly

We have in our balance sheet a liability of 1.000€ corresponding to a US supplie...

Want instant access to all verified answers on ecampus.esade.edu?