2022. The U.S. dollar equivalent of the note amount was $295,000 on December 31, 2021, and $299,000 on October 15, 2022. What amount should be included as a foreign exchange gain or loss from the two transactions for 20227 Multiple Choice O$4,000 gain. $4,000 loss. $2,000 loss $1,000 loss. $1.000 gain
2022. The U.S. dollar equivalent of the note amount was $295,000 on December 31, 2021, and $299,000 on October 15, 2022. What amount should be included as a foreign exchange gain or loss from the two transactions for 20227 Multiple Choice O$4,000 gain. $4,000 loss. $2,000 loss $1,000 loss. $1.000 gain
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:2022. The U.S. dollar equivalent of the note amount was $295,000 on December 31, 2021, and $299,000 on October 15, 2022.
What amount should be included as a foreign exchange gain or loss from the two transactions for 20227
Multiple Choice
$4,000 gain.
$4,000 loss.
$2,000 loss.
$1,000 loss.
$1,000 gain.
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