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Find the exchange rate gain or loss for the US company

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Question - A US company purchased merchandise on account from a Spanish firm for 200,000 euros. Assume the exchange rates for the Euro were as follows:

Date of sale $1.47

Date of cash receipt $1.49

Date of delivery $1.51

Find the exchange rate gain/loss for the U.S. company on this transaction?

a. $4,500 gain.

b. $4,500 loss.

c. $1,500 gain.

d. $4,000 loss.

Reference no: EM132570615

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