On November 12. Higgins, Inc., a U.S. Company, sold merchandise on credit to Kagome of Japan at a price of 2,000,000 yen. The exchange rate was $0.00842 on the date of sale. On December 31 when Higgins prepared its financial statements, the exchange rate was $0.00848. Kagome paid in January 12, when the exchange rate was $0.00866. On January 12. Higgins should prepare the following journal entry Multiple Choice O Debit Cash $16.840, debit Foreign Exchange Loss $120 credit O Debit Cash $16.960, credt Accounts Receivable Kagome $16840 credit Foreign Gain $120 O Debt Cash $16.840, debit Foreign Exchange Loss $480 Credit Accounts Receivable Kagome $17320 O O Debit Cash $12320 credit Accounts Receivable Kagome $16.840, credit Foreign Exchange Gain $480 O O Debit Cash $17320, credit Accounts Receivable Kagome 5.960, credit Foreign O in $360