DC Enterprise purchases inventory from a foreign supplier on September 1, 2016 with payment due on December 31, 2016. The transaction will be settled in 1,000,000 foreign currency units (FCUs). Management of DC immediately enters into a forward contract to hedge this transaction. The relevant exchange rates and forward contract fair values are as follows:

Items 15 to 22 are based on the following: DC Enterprise purchases inventory from a foreign supplier on September 1, 2016 with payment due on December 31, 2016. The transaction will be settled in 1,000,000 foreign currency units (FCUs). Management of DC immediately enters into a forward contract to hedge this transaction. The relevant # exchange rates and forward contract fair values are as follows: DATE Spot Rate Forward Rate Forward Contract Fair Value Sept. 1 1.120 1.124 Nov. 1 1.129 1.128 4,000 Dec. 31 1.140 1.140 16,000 15. What is the amount of exchange gain or (loss) recognized with respect to the accounts payable account on November 1, 2016? a. (4,000) b. 9,000 C. 4,000 d. (9,000) 16. What is the amount of exchange gain or (loss) recognized with respect to Forward Contract on November 1, 2016? a. (4,000) b. 9,000 c. 4,000 d. (9,000)1?. What is the amount of exchange gain or [loss] recognized with respect to Forward Contract on December 31, 2016? a. 1,000 b. 9,000 c. 12,000 d. 13,000 13. How much is the net gain or {loss} on November 1, 2015? a. 1,000 b. [5,000] c. 5,000 d. [1,000] 19. How much is the net gain or loss on December 31, 2016? a. 1,000 b. {5,000} c. 5,000 d. [1,000] 20. How much is the outstanding accounts payable as of November 1, 2016? a. 1,120,000 b. 1,124,000 C. 1,128,000 d. 1,129,000 21. How much is the outstanding peso-payable as of November 1, 2016? a. 1,120,000 b. 1,124,000 C. 1,280,000 d. 1,129,000 22. How much is the outstanding FC-receivable as of November 1, 2016? a. 1,120,000 b. 1,124,000 C. 1,280,000 d. 1,129,000