3. On December 31, what will be the adjusted balance in the Accounts Payable account and how much gain or loss was recorded as a result of the adjustment? (a) (b) (c) (d) 12. Accounting for Foreign Currency Transactions Payable Balance Gain or Loss Recorded $1,800 gain 2,400 loss 2,400 1,800 $43,200 40,800 40,800 43,200 gain loss