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a 1) Schrute Inc. had a receivable from a foreign customer that is due in the local currency of the customer (stickles). On December 31,

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a 1) Schrute Inc. had a receivable from a foreign customer that is due in the local currency of the customer (stickles). On December 31, 2021, this receivable for $200,000 was correctly included in Schrute's balance sheet at $167,000. When the receivable was collected on February 15, 2022, the U.S. dollar equivalent was $181,000. In Schrute's 2022 consolidated income statement, how much should have been reported as a foreign exchange gain? A) $0. B) $7,000. C) $19,000. D) $33,000 E) $14,000

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