QUESTION 17 MAK received inventory purchased on account for US $500,000 on December 15, 20X6 and paid the invoice on January 15, 20x7. The exchange rate on the purchase date was US$1 = C$1.10; at the December 31 year-end was US$1-C$1.12; and on the payment date was US$1-C$1.09. Which of the following would be recorded as a gain or loss on foreign exchange at the December 31 year-end? a $10,000 gain b.$5,000 gain C$5,000 loss od. d. $10,000 loss QUESTION 18 Bob's Hot Tubs Inc. sold $200,000 worth of hot tubs in 20X6. A three-year comprehensive warranty is included in the sales price. Historically, warranty costs have averaged 2% of total sales. During 20x6, the firm incurred $2,000 to service goods sold in 20X5 and $400 to service goods sold in 20X6. What was Bob's warranty expense for 20X6? a $4,000 ob. $2,400 OC $400 Od $2,000