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Marshall Company sold supplies in the amount of 33,000 (euros) to a French company when the exchange rate was $1.29 per euro. At the time

Marshall Company sold supplies in the amount of 33,000 (euros) to a French company when the exchange rate was $1.29 per euro. At the time of payment, the exchange rate decreased to $.90. Marshall must record a:

Multiple Choice gain of $29,700.

neither a gain nor loss.

gain of $12,870.

loss of $12,870.

loss of $29,700.

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