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