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• What is the journal entry to record a foreign exchange transaction gain? - Universal CPA Review

What is the journal entry to record a foreign exchange transaction gain? - Universal CPA Review

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A foreign exchange transaction gain occurs when the transaction currency is different than the reporting currency for the company. On the initial transaction date, they would record the $100 sale with a debit to accounts receivable and a credit to revenue. However, 30 days later when the customer goes to pay using the current exchange

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