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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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