On June 18, Wyman Company (A U

Multiple Choice

On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for €60,000 (Euros) , with a payment due in 60 days. If the exchange rate was $1.35 per euro on the date of sale and $1.14 per euro on the date of payment, Wyman Company should recognize a foreign exchange gain or loss in the amount of:

A) $12,600 loss.
B) $60,000 gain.
C) $68,400 loss.
D) $12,600 gain.
E) $60,000 loss.