Matthias Corp. had the following foreign currency transactions during 2020: Purchased merchandise from a foreign supplier...

 

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Matthias Corp. had the following foreign currency transactions during 2020: Purchased merchandise from a foreign supplier on January 20 for the U.S. dollar equivalent of $63,100 and paid the invoice on April 20 at the U.S. dollar equivalent of $52,100. . On September 1, borrowed the U.S. dollar equivalent of $306,000 evidenced by a note that is payable in the lender's local currency in one year. On December 31, the U.S. dollar equivalent of the principal amount was $326,000. In Matthias's 2020 income statement, what amount should be included as a net foreign exchange gain or loss? Matthias Corp. had the following foreign currency transactions during 2020: Purchased merchandise from a foreign supplier on January 20 for the U.S. dollar equivalent of $63,100 and paid the invoice on April 20 at the U.S. dollar equivalent of $52,100. . On September 1, borrowed the U.S. dollar equivalent of $306,000 evidenced by a note that is payable in the lender's local currency in one year. On December 31, the U.S. dollar equivalent of the principal amount was $326,000. In Matthias's 2020 income statement, what amount should be included as a net foreign exchange gain or loss?

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