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Suppose Addington Ltd. sells athletic shoes to a German company on March 14. Addington agrees to accept 2,300,000 euros. On the date of sale, the

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Suppose Addington Ltd. sells athletic shoes to a German company on March 14. Addington agrees to accept 2,300,000 euros. On the date of sale, the euro is quoted at $1.56. Addington collects half the receivable on April 19, when the euro is worth $1.55. Then, on May 10, when the price of the euro is $1.58, Addington collects the final amount Journalize these three transactions for Addington; include an explanation. Overall, did Addington have a net foreign-currency gain or loss

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