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  3. 3 on april 1, 2007, shannon, a us bank, made a one

3 On April 1, 2007, Shannon, a US bank, made a one year loan (asset...

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3 On April 1, 2007, Shannon, a US bank, made a one year loan (asset to Shannon) of 200,000 swiss francs to Scott Co. The dollar value of the loan at various dates was as follows: April 1, 2007: $100,000 April 30, 2007: $110,000 December 31,2007: 115,000 April 1, 2008 97,000 A What amount of foreign exchange gain or loss should be recorded in April 2007 for Shannon B What amount of foreign exchange gain or loss should be recorded in full year 2007 for Shannon C What amount of foreign exchange gain or loss should be included in Shannon's 2008 income statement. 101

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