On June 1, CamCo Received a Signed Agreement to Sell

question 84

Multiple Choice

On June 1, CamCo received a signed agreement to sell inventory for ¥500,000.The sale would take place in 90 days.CamCo immediately signed a 90-day forward contract to sell the yen as soon as they are received.The spot rate on June 1 was ¥1 =$.004167, and the 90-day forward rate was ¥1 = $.00427.At what amount would CamCo record the Forward Contract on June 1?

• A) $2,083.
• B) $ 0.
• C) $2,110.
• D) $2,532.
• E) $2,135.

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