Question: Brief Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2017, Brief correctly included this

Brief Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2017, Brief correctly included this receivable for 267,500 local currency units (LCU) in its balance sheet at $145,000. When Brief collected the receivable on February 15, 2018, the U.S dollar equivalent was $157,900. In Brief's 2018 consolidated income statement, how much should it report as a foreign exchange gain? Multiple Choice O $30,800 $30,800 0 0 0

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