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Question 1 3 Points TCL Co. is Kuwaiti company, and the Kuwaiti Dinar is functional currency. On 1 January 2020: TCL Co. purchases Equipment on

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Question 1 3 Points TCL Co. is Kuwaiti company, and the Kuwaiti Dinar is functional currency. On 1 January 2020: TCL Co. purchases Equipment on credit from United Arab Emirates (UAE) company for 102,000 UAE Dirham, when the exchange rate was 1 Kuwaiti Dinar = 16 UAE Dirham. The exchange rate on 31 December 2020, 1 Kuwaiti Dinar = 10 UAE Dirham What is the Gain or loss from retranslation of Account Payable on 31 December 2020? ? A $3,825 Loss B ) $10,200 Loss $10,200 Gain D $3,825 Gain

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