Business, 12.12.2019 03:31 ReveenatheRaven2296

On november 6, 20x7, zucor corp. purchased merchandise from an unaffiliated foreign company for 50,000 units of the foreign company's local currency. on that date, the spot rate was $1.259. zucor paid the bill in full three months later when the spot rate was $1.258. the spot rate was $1.255 on december 31, 20x7. what amount should zucor report as a foreign currency transaction gain in its income statement for the year ended december 31, 20x7?

a. $0
b. $50
c. $
d. $200

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On november 6, 20x7, zucor corp. purchased merchandise from an unaffiliated foreign company for 50,0...

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