DeGaulle Enterprises,a Subsidiary of Clinton Company Based in New York,reported

Multiple Choice

DeGaulle Enterprises,a subsidiary of Clinton Company based in New York,reported the following information at the end of its first year of operations (all in French francs) : assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000,revenues--7,140,000.Relevant exchange rates are as follows:

As a result of the translation process,what amount is recorded on the financial statements as the translation adjustment?

A) $1,287 debit adjustment
B) $1,287 credit adjustment
C) $6,080 debit adjustment
D) $6,080 credit adjustment