Madison Paving Company purchased equipment for 350,000 British pounds from a supplier in London on July 7 , 2024. Payment in British pounds is due on Sept. 7, 2024. The exchange rates to purchase one pound is as follows: On its August 31, 2024 income statement, what amount should Madison Paving report as a foreign exchange transaction gain: 10,500 14,000 7,000 (D) 0