MAYA is an Irish company whose functional currency is the euro (). On 31 May 2019, it sold goods to a UK customer at an agreed price of GBP 40,000. At the reporting date 31 July 2019, the balance remained payable. The relevant exchange rates were as follows: 31 May 2019: 1 = GBP 0.98 31 July 2019: 1 = GBP 0.93 Ignoring the time value of money, what is the amount of exchange gain or loss that would appear in the financial statements of MAYA for year ended 31 July 2019 based on the above transaction?