Business, 15.07.2020 01:01 livy151515

Flynn Corporation purchased bicycles from a British manufacturer at a price of 44,000 British pounds on November 15, 2017 with payment due in 60 days. Using the following exchange rates, what gain or loss from currency fluctuations should be recognized in 2017 and 2018, respectively? Nov 15, 2009 $1.70 per British Pond
Dec 31, 2009 $1.75 per British Pond
Jan 15, 2010 $1.73 per British Pond

a. A $2,250 loss in 2009 and a $900 gain in 2010.
b. No gain or loss in 2009 and a $1,350 loss in 2010.
c. A $2,250 gain in 2009 and a $900 loss in 2010.
d. No gain or loss in 2009 and a $1,350 gain in 2010.

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Flynn Corporation purchased bicycles from a British manufacturer at a price of 44,000 British pounds...

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