PROB. 10 - 12 (AICPA) On April 8, 2009, Day Corp. purchased merchandise from an unaffiliated foreign company for 10,000 units of foreign company's local currency. Day paid the bill in full on March 1, 2009 when the spot rate was PO.45. The spot rate was PO.60 on April 8, 2009 and was P0.55 on December 32, 2009. For the year ended December 31, 2009, Day should report a transaction gain of. a. 1,500 b. 1,000 C. 500 d. 0