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?
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