On January 1, an U.S. company, Company A, made a sale to a U.K. company, company B. The payment was 35,000 British pounds and received on April 1. The exchange rates were as follows: this material is anuary 1: 1 = $1.22.osting this material on any commerical websites is a violation of my copyright. Any suspected violations should be reported to LIL@oldwestbury.edu. Unauthorized sharing or April 1: 1 = $1.12 this material is strictly prohibited. Posting this material on any commerical websites is a violation of my copyright. Any suspected violations should be reported to What is the foreign exchange gain or loss recognized in Company A's books? (5 Points)erial is strictly

On January 1 , an U.S, company, Company A, made a sale to a U.K. company, company B. The payment was 35,000 British pounds and received on April 1. The exchange rates were as follows: January 1: 11=$1.22 April 1: i l=$1.12 What is the foreign exchange gain or lass recognized in Company A's books? (S Points)