On November 1, 2011, American Company sold inventory to a foreign customer. The account will be settled on March 1 with the receipt of $450,000 foreign currency units (FCU). On November 1, American also entered into a forward contract to hedge the exposed asset. The forward rate is $0.70 per unit of foreign currency. American has a December 31 fiscal year-end. Spot rates on relevant dates were: Date Per unit of foreign currency Nov 1 .73 Dec 31 .71 Mar 1 .74 What will be the adjusted balance in the Accounts Receivable account on December 31, and how much gain or loss was recorded as a result of the adjustment? Receivable Balance Gain/Loss Recorded a. $319,500 $9,000 gain b. $319,500 $9,000 loss c. $333,000 $4,500 gain d. $333,000 $18,000 gain