Marshall Company Sold Supplies in the Amount of €25,000 (Euros)

Multiple Choice

Marshall Company sold supplies in the amount of €25,000 (euros) to a French company when the exchange rate was $1.21 per euro. At the time of payment, the exchange rate decreased to $0.82. Marshall must record a:

A) gain of $20,500.
B) neither a gain nor loss.
C) loss of $20,500.
D) gain of $9,750.
E) loss of $9,750.