Cassowary Corporation's balance sheet at December 31, 20x3 included a $20,400 account receivable from Quail Corporation of Australia. The account receivable was denominated as 30,000 Australian dollars (A$). What entry did Cassowary make on January 16, 20x3 when the account receivable was collected and the exchange are for A$ was $.67?

a.

cash	20,100
accounts receivable		20,100

b.

cash	20,100
exchange loss	300
accounts receivable		2,400

c.

cash	20,400
accounts receivable		20,400

d.

cash	20,700
accounts receivable		20,400
exchange gain		300