EXERCISE $12-6$

Transaction Gain or Loss LO $4$

Agentel Corporation is a U$.$S$.-$based importing$-$exporting company. The company entered into the following transactions

during the month of November.

All the transactions were unsettled at December $31,$ Agentel's fiscal year$-$end. Spot rates are as follows:

Required:

A$.$ Compute the amount that Agentel would report for each unsettled receivable and payable in its balance sheet

prepared at December $31.$

B$.$ Compute the transaction gain or loss on each unsettled receivable and payable that would be reported in the income

statement prepared for the year ended December $31.$