How much foreign exchange gain or loss will alpha record


Alpha, Inc. a U.S. company had a receivable from a customer that was denominated in pesos. On December 31, 2008, this receivable for 75,000 pesos was correctly included in Alpha's balance sheet at $8,000. The receivable was collected on March 2, 2009, when the U.S. equivalent was $6,900. How much foreign exchange gain or loss will Alpha record on the income statement for the year ended December 31, 2009?

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Accounting Basics: How much foreign exchange gain or loss will alpha record
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