Distribution Services Inc., a Canadian company, sold merchandise on account to Battle River Corporation, a British company, for 400,000 British pounds. The relevant exchange rates for the British pound were as follows: The exchange rate gain or loss for Distribution Services on this transaction was:

Question

Distribution Services Inc., a Canadian company, sold merchandise on account to Battle River Corporation, a British company, for 400,000 British pounds. The relevant exchange rates for the British pound were as follows:  The exchange rate gain or loss for Distribution Services on this transaction was:

Quizplus · Accepted Answer

The Answer of Distribution Services Inc., a Canadian company, sold merchandise on account to Battle River Corporation, a British company, for 400,000 British pounds. The relevant exchange rates for the British pound were as follows:  The exchange rate gain or loss for Distribution Services on this transaction was: