Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, 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, 2011, 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, 2012, the U.S.dollar equivalent was $95,000.In Post's 2012 consolidated income statement, how much should it report as a foreign exchange loss
a.$-0-.
b.$10,000.
c.$15,000.
d.$25,000.