Promissory Note Template
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Promissory Note Template
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Problem 5. Vector Corporation issued promissory note denominated in foreign currency for the purchase made from a supplier in England on December 1, for 60-day, 18% promissory note for 108,000 pounds, at a selling rate of 1FC to P74.20. On December 31, the selling spot rate is 1FC to P74.85. On January 30, the selling spot rate is 1FC to P75.75. 29-30. On settlement date, how much is the foreign exchange gain/loss?
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