Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik

Exercise 13

Post, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2013, Post correctly included this receivable for 200,000 local currency units (LCU) in its balance sheet at $110,000. When Post collected the receivable on February 15, 2014, the U.S. dollar equivalent was $95,000. In Post's 2014 consolidated income statement, how much should it report as a foreign exchange loss
a. $-0-.
b. $10,000.
c. $15,000.
d. $25,000.