On October 15, 2016, Rise Corporation of the United States sell inventory items to Chai Company of Thailand for 245,000 Thai baht, to be received on January 15, 2017. Spot rate for October 12,2016 is $0.029, for December 31, 2016, is $0.033, and for January 15,2017 is $0.030. While forward rate for October is $0.027, for December 31 is $0.026, and for January 15 is $0.030. The discount factor corresponding to the company's incremental borrowing rate is 0.98. Assuming that, Rise corporation does not hedge this transaction, what is the journal entry to be recorded on October 15,2016? O a. Debit accounts receivables and credit sales for $7,105. O b. Debit cash and credit accounts receivables for $7,105. O c. Debit purchases and credit accounts payable for $7,205. O d. None of these