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 Peerlesss 20X1 income statement?
Group of answer choices
$5,000 gain
$6,250 gain
$6,250 loss
$5,000 loss

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