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Bombay Company, a U.S. firm, sold merchandise to Thames Company of England for 100,000 euros on November 1, 2019. Collection of the receivable is due

Bombay Company, a U.S. firm, sold merchandise to Thames Company of England for 100,000 euros on November 1, 2019. Collection of the receivable is due on April 30, 2020. On the sale date, Bombay purchased a six-month foreign currency forward contract to sell 100,000 euros. This forward contract is designated as a cash flow hedge. Bombay's fiscal year ends December 31. Relevant exchange rates follow:

Date Spot Rate Forward Rate
November 1, 2019 $0.21 $0.20
December 31, 2019 $0.19 0.17
April 30, 2020 $0.18 N/A

What is the net adjustment to AOCI in 2020?

Group of answer choices

$1,667 debit

$1,667 credit

$2,000 debit

$2,667 debit

$1,333 debit

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