$7.$ An entity denominated a December $15,20$X$6,$ purchase of goods in a currency other than its functional currency. The transaction resulted in a payable fixed in terms of the amount of foreign currency and was paid on the settlement date, January $20,20$X$7.$ The exchange rates between the functional currency and the currency in which the transaction was denominated changed at December $31,20$X$6,$ resulting in a loss that should: