Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on credit terms for US$100 000. 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$1.50 1 August 2023 US$1.00 = A$1.40 What is the journal entry at the end of the reporting period on 30 June 2023?

a.

DR Accounts Receivable $20 000 CR Foreign Exchange Gain $20 000

b.

DR Accounts Receivable $150 000 CR Foreign Exchange Gain $20 000 CR Sales $130 000

c.

DR Accounts Receivable $150 000 CR Sales $150 000

d.

DR Foreign Exchange Loss $20 000 CR Accounts Receivable $20 000