Question: Peerless Corporation ( a U . S . company ) made a sale to a foreign customer on December 1 5 , 2 0 X

Peerless Corporation (a U.S. company) made a sale to a foreign customer on December 15,20X1 for 125,000 crowns. It received payment on January 15,20X2. The following exchange rates for 1 crown apply:
December 15$0.61
December 31,0.65
January 15,0.60
How does the fluctuation in exchange rates affect Peerless's 20X1 income statement?
$5,000 loss
$6,250 loss
$5,000 gain
$6,250 gain
Peerless Corporation ( a U . S . company ) made a

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