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Need ASAP 30 minutes On December 2, 2020, Troll Company, a U.S. company, sold machinery to Amigo, a Mexican company, with payment due on March
Need ASAP 30 minutes
On December 2, 2020, Troll Company, a U.S. company, sold machinery to Amigo, a Mexican company, with payment due on March 4, 2021. If Troll's fiscal year-end is December 31 and its 2020 income from continuing operations does not include any foreign currency exchange gain or loss, it is most likely that: A. Troll entered into a forward contract to purchase Mexican peso on March 4, 2021. B. this transaction caused a foreign currency translation gain or loss to be adjusted to the accounts receivable (Mex$). C. this sale was denominated in U.S. dollars. D. this transaction resulted in a foreign currency transaction gain or loss to be included in other comprehensive income. OO
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