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On November 1,2021 , Monica China sold a technology to Monika Saudi Arabia for 1,500,000 saudi riyal. The settlement date is February 1, 2022. Monica

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On November 1,2021 , Monica China sold a technology to Monika Saudi Arabia for 1,500,000 saudi riyal. The settlement date is February 1, 2022. Monica China has a fiscal year-end of December 31 and uses Chinese RMB as its functional and reporting currency. A. Determine Monica China's foreign exchange gain or loss on the 2022 balance sheet date. B. Determine Monica China's cumulative foreign exchange gain or loss related to this transaction

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