Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 38

Grete Corp.had the following foreign currency transactions during 2011:
• Purchased merchandise from a foreign supplier on January 20, 2011, for the U.S.dollar equivalent of $60,000 and paid the invoice on April 20, 2011, at the U.S.dollar equivalent of $68,000.
• On September 1, 2011, borrowed the U.S.dollar equivalent of $300,000 evidenced by a note that is payable in the lender's local currency on September 1, 2012.On December 31, 2011, the U.S.dollar equivalent of the principal amount was $320,000.
In Grete's 2011 income statement, what amount should be included as a foreign exchange loss
a.$4,000.
b.$20,000.
c.$22,000.
d.$28,000.