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Business, 31.10.2019 06:31 emilysmith20044

Matthias corp. had the following foreign currency transactions during 2017: purchased merchandise from a foreign supplier on january 20 for the u. s. dollar equivalent of $62,200 and paid the invoice on april 20 at the u. s. dollar equivalent of $54,500. on september 1, borrowed the u. s. dollar equivalent of $306,000 evidenced by a note that is payable in the lender's local currency in one year. on december 31, the u. s. dollar equivalent of the principal amount was $325,000. in matthias's 2017 income statement, what amount should be included as a net foreign exchange gain or loss?

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