On 1/10/2016, AHMED.Co (Jordanian company) purchased a goods of $4,000,000 on account from MC. CO (U.S.A company). The outstanding amount is due to be paid on 1/4/2017. To avoid unexpected losses that may result from the fluctuation of foreign currency, AHMED.Co, signed a hedging contract with Arab Bank to purchase the due amount at exchange rate of .720 at the 1/4/ 2017. The exchange rate of Dollar with respect to Jordanian Dinar were as follow: Date 1/10/2016 31/12/2016 (FS) 1/4/2017 Rate 1700 1730 1710 At 31/12/2016 the company will record the following entry because of signing hedging contract. Select one O. DR foss/hedging of 120000 CR account receivable/hedging of 120000 OOR. loss/hedging of 120000 CR account payable/hedging of 120000 c. account payable/hedging of 120000 CR gain/hedging of 120000 a account recewable/hedging of 120000 CR gain/hedging of 120000