ADVANCED ACCOUNTING
ADVANCED ACCOUNTING
4th Edition
ISBN: 9781618533128
Author: Halsey
Publisher: Cambridge Business Publishers
Question
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Chapter 7, Problem 39E

a.

To determine

Prepare the journal entries to record the purchase and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the for the AFS

security and forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both sale of the AFS security and the settlement of the forward-contract

derivatives.

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