On November 6 of Year 1, Brown Company received consulting services (on account) from a client located in Cambodia. The contract price is 20,000,000 qui. On November 6, the exchange rate was 4,000 qui for one U.S. dollar. On December 31, the exchange rate was 4,500 qui for one U.S. dollar. Brown made payment on the account on March 23 of Year 2. On that date, the exchange rate was 3,900 qui for one U.S. dollar. The journal entry made by Brown on March 23 relating to this transaction would include:

• CREDIT to Accounts Payable of $4,444
• CREDIT to Gain on Foreign Currency Transaction of $556
• DEBIT to Accounts Payable of $556
• DEBIT to Loss on Foreign Currency Transaction of $684