Question: I need a solution and answer for this one. Thank you. 26. On June 18, Johnson Company, a U.S. company, sold goods to Cafex Company

I need a solution and answer for this one. Thank you.

I need a solution and answer for this one. Thank you.

26. On June 18, Johnson Company, a U.S. company, sold goods to Cafex Company for 55,000 Danish kroner with payment due in 60 days. If the exchange rate was $.65 on date of sale and $.70 on date of payment, Johnson should recognize an exchange GAIN or LOSS (circle correct one) of: $_

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