Question 4 Refer to the question above. Based on the change in the exchange rate what gain or loss will be recorded on Dec 317 Loss of $150 Cain of $100 Loss of $50 Los 100 Moving to another question will save this response. Question 3 Example 1: On Dec 20, a US fim purchased equipment worth $1,000 Euros on account. The payment was made on Jan 20. (There is no forward contract taken here) Exchange rates: 1 Euro 1 Euro = 1 Euro = $1.30 $1.40 $1.45 20-Dec 31-Dec 20-Jan What is the journal entry for the transaction on Dec 20? Debit Equipment $1,300, credit Cash $1,300 Debit Account Receivate $1,300, credit Sales Revenue $1,300 Debit Account Payable $1,300, credit Equipment $1,300 Debit Equipment $1,300, credit Account Payable $1,300 Moving to another question will save this mannen