What gain or loss should the us company recognized

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Question: On November 1, 2018, ACE Inc, a US company sold goods to UWE GMBH a German company and payment to be made in Euro for the 1 millions Euros on December 31, 2018. At the time of the transaction, 1 Euro was equal to 1 US Dollar. If on December 31, 2018 the exchange rate is now 2 Euros to 1 US Dollar, what gain or loss should the US company recognized on December 31, 2018 in connection with this transaction

Reference no: EM133543655

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