Exact Instruments sold equipment to a British research group at a price of 70,000 British pounds on December 1, 2009, with payment due in 90 days. Using the following exchange rates, what gain or loss from currency fluctuations should recognized in 2009 and 2010? $\begin{array}{ll}
\text { Dec. 1, } 2009 & \$ 1.78 \text { per British pound } \
\text { Dec. } 31,2009 & \$ 1.82 \text { per British pound } \
\text { Mar. } 1,2010 & \$ 1.77 \text { per British pound }
\end{array}$

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The Answer of Exact Instruments sold equipment to a British research group at a price of 70,000 British pounds on December 1, 2009, with payment due in 90 days. Using the following exchange rates, what gain or loss from currency fluctuations should recognized in 2009 and 2010? $\begin{array}{ll}
\text { Dec. 1, } 2009 & \$ 1.78 \text { per British pound } \
\text { Dec. } 31,2009 & \$ 1.82 \text { per British pound } \
\text { Mar. } 1,2010 & \$ 1.77 \text { per British pound }
\end{array}$

Exact Instruments Sold Equipment to a British Research Group at a Price