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ParCorp owns 80% of its German subsidiary, ChiCorp. Remeasuring ChiCorp's December 31, 20X8 trial balance into U.S. dollar required a remeasurement gain/loss of $6,000 debit.

ParCorp owns 80% of its German subsidiary, ChiCorp. Remeasuring ChiCorp's December 31, 20X8 trial balance into U.S. dollar required a remeasurement gain/loss of $6,000 debit. Provide ParCorp's December 31, 20X8 journal entry in relation to this remeasurement gain/loss. The December 31, 20X8 spot rate was 1 euro = $1.5.

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