On December 11, 2017, Bisbee Co

question 8

Essay

On December 11, 2017, Bisbee Co. purchased capsules from a Canadian company for 10,000 Canadian dollars (10,000 C$) to be paid on January 2, 2018. The exchange rates on December 11 and December 31, 2017 are US$0.79 = 1C$ and US$0.82 = 1C$, respectively. What is the cost of the capsules in U.S. dollars and the 2017 exchange loss?

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