A U.S. company owns an 80% interest in 2 company located on Mars. Martian currency is called the Martian Credit. During the yvear the parent company sold inventory that had cost $24,400 to the subsidiary on account for $31,500 when the exchange rate was 0.5192. The subsidiary still held one-half of the inventory and had not paid the parent company for the purchase at the end of the fiscal period. The unsettled account is denominated in dollars. The exchange rate at the fiscal year-end was 50,4994, (al) (a2) Compute the subsidiary's transaction gain or loss on the accounts payable denominated in dollars. (Round answers to O decimal places, e.g. 5,125.) Transaction gain loss |