Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on credit terms for US$80 000. On 1 August 2023, cash is received from the customer to settle the invoice Exchange rates are: 1 April 2023 US$1.00 = A$1.30 30 June 2023 US$1.00 = A$1.55 1 August 2023 US$1.00 = A$1.45 What is the journal entry to record the sale transaction on 1 April 2023?

a.

DR. Accounts Receivable $61 538 CR. Sales $61 538

b.

DR. Accounts Receivable $120 000 CR. Sales $120 000

c.

DR. Cash $61 538 CR. Sales $61 538

d.

DR. Accounts Receivable $104 000 CR. Sales $104 000