X imports and sells PCs. During December of the current year 2020, X (American), entered into the following transaction: On 2 December 2020, X purchased computer equipment from a Taiwan company. Contract was denominated in 500000 Taiwan dollar. Direct exchange rate on this date was each Taiwan dollar = $0.0395 (Spot). On 31 December 2020, suppose that the exchange rate was [1 Taiwan dollar = $0.0351). On 1 March 2021, X paid the due amount. The exchange rate is 0.0398. The adjusting entry on 31 December 2020 is O a. Dr. Account Payable $220 and Cr. Transaction gain $220 O b. Dr. Purchases $200 and Cr. Account Payable $200 Oc Dr. Account Payable $2000 and Cr. Transaction gain $2000 O d. Dr. Account Payable $2200 and Cr. Transaction gain $2200