Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 46

S.exporter has a Thai baht account receivable resulting from an export sale on April 1 to a customer in Thailand.The exporter signed a forward contract on April 1 to sell Thai baht and designated it as a cash flow hedge of a recognized Thai baht receivable.The spot rate was $0.022 on that date, and the forward rate was $0.023.Which of the following did the U.S.exporter report in net income a.Discount expense.
B)Discount revenue.
C)Premium expense.
D)Premium revenue.