Sorel holds a receivable of 25,000, recorded at 22,250 at the rate of 0.89 euro per 1 dollar. At the closing date the rate is 0.93 euro, i.e. 23,250. Post the closing translation entry.
- Receivable in dollars
- 25,000
- Carrying amount before translation
- 22,250
- Amount at the closing rate
- 23,250