On November 1, 2019, DEMA Corp., a U.S. firm, sold merchandise to a foreign firm for 300,000 FC. DEMA will be paid on January 31, 2020, in FC. The spot rates on selected dates were as follows: November 1, 2019 1 FC = $0.50, December 31, 2019 1 FC = $0.55, and January 31, 2020 1 FC = $0.53. DEMO has a December 31-year end, the journal entry on January 31,2020 includes:

a.

Debit exchange losses $ 6,000.

b.

Credit exchange losses $ 6,000.

c.

Credit exchange gains $ 6,000.

d.

Debit exchange gains $ 6,000.