On December $1,20$X$5,$ Gillard Ltd$.$ sold goods to International Traders Ltd$.,$ a company located in Switzerland for $500,000$ Swiss francs $($CHF$).$ At the date of sale, the spot rate was $CHF1=$$$1\mathrm{.}0329.$

On the same date, Gillard acquired a $90-$ day forward contract at a rate of CHF$1=$ $$1\mathrm{.}0315.$

On March $1,20$X$6,$ Gillard receives full payment from International Traders and delivered the Swiss francs in execution of the forward contract. The spot rate at March $1,206$ was CHF$1=$$$1\mathrm{.}0287.$

Assume that Gillard has a December $31$ year$-$ end and that the spot rate on that date was $CHF1=$$$1\mathrm{.}0302.$ At December $31,$ the forward rate for a $60$ day contract was $CHF1=$$$1\mathrm{.}0394.$

At December $31,$ what is the balance of Gillard's accounts receivable?

$$517,800$

$$515,700$

$$515,100$

$$516,450$