Problem

Match the following transactions, which are denominated in a foreign currency, with the ap...

Match the following transactions, which are denominated in a foreign currency, with the appropriate foreign currency and exchange gain or loss effects.

Transaction

Matching Transaction Letter

Foreign Currency Effect

Foreign Exchange Gain or Loss

a.Export sale

?

Appreciates

Loss

b.Import purchase

?

Appreciates

Gain

c.Foreign currency receivable

?

Depreciates

Gain

d.Payable in foreign currency

?

Depreciates

Loss

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