PLEASE SOLVE FOR PART B

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Exercise 12-6 Agentel Corporation is a U.S.-based importing-exporting company. The company entered into the following transactions during the month of November. Nov. 6 5 Purchased merchandise from AGT, a Swiss firm, for 630,000 francs. Sold merchandise to SLS, Inc., a firm located in Rio De Janeiro, for $180,000. Sold merchandise to TNT, Ltd., a British firm, for 120,000 pounds. Purchased merchandise from SDS, Ltd., a British firm, for $170,000. 18 20 All the transactions were unsettled at December 31, Agentel's fiscal year-end. Spot rates are as follows: Date November 6 November 15 November 18 November 20 December 31 Franc $0.490 0.487 0.476 0.468 0.460 Currency Real Pound $0.412 $1.520 0.409 1.509 0.414 1.506 0.405 1.498 0.398 1.482 (a) Your answer is correct. Compute the amount that Agentel would report for each unsettled receivable and payable in its balance sheet prepared at December 31. Amount Accounts Receivable SLS, Inc. (denominated in $) 180000 177840 TNT, Ltd. Accounts Payable AGT 289800 SDS, Ltd. (denominated in $) 170000 (b) Compute the transaction gain or loss on each unsettled receivable and payable that would be reported in the income statement prepared for the year ended December 31. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) Receivable Payable SLS, Inc. TNT, Ltd. AGT SDS, Ltd. Transaction gain (loss)