Cass Corporation's balance sheet at December 31, 20X4 included a $48,480 account receivable from Redmun Corporation of Mexico. The account receivable was denominated as 600,000 Mexican pesos. What entry did Cass make on January 16, 20*5 when the account receivable was collected and the exchange rate for the peso was $.09? Select one: O Cash 54,000 a. Accounts Receivable 54,000 Cash 54,000 O b. Exchange Gain 5.520 Accounts Receivable 48,480 Cash 48,480 O C. Accounts Receivable 48,480 Cash 48,480 O d. Exchange Loss 5,520 Accounts Receivable 54,000