On this one I have chosen $3,000 exchange gain in 2019 and a $7,000 exchange loss in 2020 FY.
I want to
make sure I have this clear in my mind. Is this because the currency transaction on June 30th was .03 cents less than their original transaction cost?
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And when they actually made payment, the currency transaction on July 30th was .04 cents more? so we see a loss in FY 2020?
Insight is appreciated! Thank you