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Bankston Inc., a U.S. corporation, sold inventory on 12/01/17, with payment of 10,000 British pounds to be received in sixty days. The exchange rates during

Bankston Inc., a U.S. corporation, sold inventory on 12/01/17, with payment of 10,000 British pounds to be received in sixty days. The exchange rates during this timeframe:

12/01 $1.7241

12/31 $1.8182

01/31 $1.6666

What is the amount of foreign exchange gain or loss should be recorded on 12/31/17?

A

$300 loss

B

$941 loss

C

$300 gain

D

$941 gain

E

$0

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