Canada Currency Conversion - Journal Entry

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Faisal Ahmed

Joined
Feb 12, 2017
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Hi,

I am confused regarding journal entry for currency conversion. Please if you could advice.

Let say our reporting currency is US$ and we have a bank account in Canadian Dollars as well. We exchanged 1000 Canadian dollars to US$. How we will record this transaction in the books?

Regards

Faisal
 
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