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Alpha, Inc., a U.S. company, had a receivable from a customer that was denominated in Mexican pesos. On December 31, 2017, this receivable for 75,000
Alpha, Inc., a U.S. company, had a receivable from a customer that was denominated in Mexican pesos. On December 31, 2017, this receivable for 75,000 pesos was correctly included in Alphas balance sheet at $8,000. The receivable was collected on March 2, 2018, when the U.S. equivalent was $6,900. How much foreign exchange gain or loss will Alpha record on the income statement for the year ended December 31, 2018?
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