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Delete EU Currency Field into the Forbearance Agreement

Delete EU Currency Field into the Forbearance Agreement

Aug 6th, 2022

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How to Delete EU Currency Field into the Forbearance Agreement

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in this video Im gonna show you how to account for a foreign currency borrowing so lets say we have a company in the United States and their financial statements are denominated in u.s. dollars and they borrow money but theyre borrowing in euros from a European bank and they promise to pay back in one year so theyre gonna have to pay back in euros that getting euros when they borrow the money there and theyre gonna have to pay back in euros so weve got some exchange rate info here now when they actually borrow the money all we know so lets say they borrow on July 1st 2020 and the exchange rate at that time is $1 10 so basically if you had one euro and you were to convert it to US dollars youd get $1 10 in u.s. dollars we dont know this information at this point in time but were gonna need that to solve the problem when I go to show you the example but right now so July 1st 2020 weve got an exchange rate of $1 10 per euro okay and then in terms of the amount borrowed theyre

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