Alabaster Ltd has a functional currency of A$. On 15 June 2023, Alabaster Ltd purchases goods on credit terms from a New Zealand supplier for NZ$220 000. Alabaster Ltd pays the invoice in full on 20 July 2023. Exchange rates are: 15 June 2023 NZ$1.00 = A$0.95 30 June 2023 NZ$1.00 = A$0.90 20 July 2023 NZ$1.00 = A$0.92 What is the journal entry at the end of the reporting period on 30 June 2023?

a. DR. Accounts Payable $12 865 CR. Foreign Exchange Gain $12 865

b. DR. Foreign Exchange Loss $11 000 CR. Accounts Payable $11 000

c. DR. Foreign Exchange Loss $12 865 CR. Accounts Payable $12 865

d. DR. Accounts Payable $11 000 CR. Foreign Exchange Gain $11 000