Business
Business, 14.04.2020 20:40, Beth5225

On April 10, 2019, when the spot rate is $1.10/€, a US company buys merchandise from a customer in Italy. The spot rate is $1.12/€ on June 30, the company’s year-end (i. e., 2019 fiscal year end). Payment of €100,000 is made on August 10, 2019, when the spot rate is $1.08/€ (i. e. during the 2020 fiscal year). What is the effect on fiscal 2019 and 2020 income?

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