Inventory price

Date Spot rate Total

(in Thai baht)
Oct 15, 2016 ($ 0.029) 245,000 ($ 7,105)
Dec 31, 2016 ($ 0.033) 245,000 ($ 8,085)
Jan 15, 2017 ($ 0.030) 245,000 ($ 7,350)

JOURNAL ENTRY Rise Corporation

October 15, 2016 Income Statement (Partial)
Accounts Receivable ($ 7,105) For the Year Ended December 31, 2016
Sales ($ 7,105) Exchange Gain ($ 980)
(To record sales to Chai company, spot rate $0,029)
Rise Corporation
December 31, 2016 Income Statement (Partial)
Accounts Receivable ($ 980) For the Year Ended December 31, 2017
Exchange Gain ($ 980) Exchange Gain ($ 245)
(To adjust accounts receivable at year-end, change in spot rate $0.033 - $0.029)

Jan 15 2017
Cash ($ 7,350)
Exchange Loss ($ 735)
Accounts Receivable ($ 8,085)
(To record full collection from Chai company, spot rate $0.030 and recognize
exchange loss due to change in spot rate $0.033 - $0.030)