Boerkian Co. started 2021 with two assets: Cash of 26,000 (Stickles) and Land that originally cost 72,000 when acquired on April 4, 2018. On May 1, 2021, the company rendered services to a customer for 36,000, an amount immediately paid in cash. On October 1, 2021, the company incurred an operating expense of 22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary. Currency exchange rates were as follows:

April 4, 2018		1	=	$	0.28
January 1, 2021		1	=	$	0.29
May 1, 2021		1	=	$	0.30
October 1, 2021		1	=	$	0.31
December 31, 2021		1	=	$	0.35

Assume Boerkian was a foreign subsidiary of a U.S. multinational company and the U.S. dollar was the functional currency of the subsidiary.

Required:

(a) What translation method should be used? Should the adjustment be included in AOCI or Net Income?

(b) In good form, calculate the translation adjustment or remeasurement gain or loss, and show the process.

(c) Is the adjustment in part (b) a debit or credit balance?