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on december 5, 20x8, texas based imperial corporation purchased goods from a saudi arabian firm for 100,000 riyals (sar), to be paid on january 10, 20x9. the transaction is denominated in saudi riyals. imperial's fiscal year ends on december 31, and its reporting currency is the u.s. dollar. the exchange rates are:

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AnjaliP102

The exchange rates are:

Accounts Payable (SAR) 300 Gain on Foreign Currency Transaction 300 .

What is accounts payable?

  • Forward contracts are purchase or offer agreements that specify the exchange of a specific resource at a future date but at a current agreed-upon price.
  • Unlike some other future commitment subsidiary instruments, they do not require an initial or down payment.
  • Because no money is exchanged in the initial understanding, it has no value.
  • In other words, the forward cost covers the cost of transportation.
  • Derivative valuation is not an exact science, and philosophical and methodological disagreements abound among financial economists, security engineers, and market mathematicians on the subject.

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tutorconsortium127

The exchange rates exists accounts Payable (SAR) 300 Gain on Foreign Currency Transaction 300 .

What is meant by accounts payable?

Forward contracts outline the exchange of a particular resource at a future time but at a present agreed-upon price. They do not require an initial or down payment, in contrast to some other future commitment subsidiary instruments. It has no worth because there isn't any money transferred in the beginning.

In other words, transportation expenses are covered by the forward cost. Financial economists, security experts, and market mathematicians all disagree on the philosophy and methodology of derivative valuation, which is not a precise science.

To learn more about accounts payable refer to :

brainly.com/question/20713676

#SPJ4

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