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98 On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for 65,000 (Euros), with a payment due in
98 On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for 65,000 (Euros), with a payment due in 60 days. If the exchange rate was $1.40 per euro on the date of sale and $1.19 per euro on the date of payment, Wyman Company should recognize a foreign exchange gain or loss in the amount of: Skipped Multiple Choice O $77,350 loss. $13,650 loss. $65,000 loss. $13,650 gain. $65,000 gain
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