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Taste Bits Inc. purchased chocolates from Switzerland for 200,000 Swiss francs (SFr) on December 1, 20X8. Payment is due on January 30, 20X9. On December 1, 20X8, the company also entered into a 60-day forward contract to purchase 100,000 Swiss francs. The forward contract is not designated as a hedge. The rates were as follows:
-Based on the preceding information,the entries on January 30,20X9,include a:
Infrastructure
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Business Equipment
Tangible assets such as machinery, computers, and tools that are used in the operation of a business to carry out various tasks.
Agricultural Machinery
Machines and equipment used in farming to aid in the production of crops and livestock, such as tractors and harvesters.
Financial Institutions
Organizations that provide financial services, like banks, insurance companies, and stock exchanges.
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