Post, Inc., had a receivable from a foreign customer that is payable in the customer's local currency.

Question:

Post, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2013, Post correctly included this receivable for 200,000 local currency units (LCU) in its at $110,000. When Post collected the receivable on February 15, 2014, the U.S. dollar equivalent was $95,000. In Post's 2014 , how much should it report as a foreign exchange loss?
a. $-0-.
b. $10,000.
c. $15,000.
d. $25,000.
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