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$200 000. Alabaster Ltd pays the invoice in full on 20 July 2023. Exchange rates are: 15 June 2023 NZ$1.00 = A$1.05 30 June 2023 NZ$1.00 = A$0.93 20 July 2023 NZ$1.00 = A$0.98 What is the journal entry at the date of the cash payment on 20 July 2023?

a.DR Accounts Payable $215 054 CR Foreign Exchange Gain $10 972

CR Cash $204 082

b.DR Accounts Payable $210 000 CR Foreign Exchange Gain $14 000

CR Cash $196 000

c.DR Accounts Payable $206 000 CR Foreign Exchange Gain $10 000

CR Cash $196 000

d.DR Foreign Exchange Loss $10 000 DR Accounts Payable $186 000

CR Cash $196 000