A multinational Corporation based in the United States of America has subsidiaries in the UK, Canada, and France. As at December 31, 2020, inter-company indebtedness were as follows:

Debtors Creditors Amount Currency

UK Canada 1,500,000 Can$

UK France 600,000 Euro ()

France Canada 800,000 Can$

Canada UK 94,000 Sterling ()

Canada France 400,000 Euro ()

It is the policy companys policy to net off inter-company balances to the greatest extent possible. The central treasury department is to use the following exchange rates for these purposes:

US$1 =Can$1.237/0.8620/0.729

Required:

Calculate the net payment to be made between the subsidiaries after netting off inter-company balances, by presenting the payoff in a matrix/table format.