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Business, 28.11.2019 22:31 1937

On april 1, 2017, shannon company, a u. s. company, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due april 1, 2018. the dollar value of the loan was as follows:
col1 date april 1, 2017 december 31,2017 april 1, 2018
col2 amount $ 97,000 103,000 105,000
how much foreign exchange gain or loss should be included in shannon’s 2018 income statement
a. $1,000 gain.
b. $1,000 loss.
c. $2,000 gain.
d. $2,000 loss.
e. $8,000 loss.

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On april 1, 2017, shannon company, a u. s. company, borrowed 100,000 euros from a foreign bank by si...
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