Robert Company Sold Inventory to an Australian Company for 50,000

Robert Company sold inventory to an Australian company for 50,000 Australian dollars on April 1,20X0 with settlement to be in 60 days.On the same date,Robert entered into a 60-day forward contract to sell 50,000 Australian dollars at a forward rate of $1.164 in order to manage its exposed foreign currency receivable.The forward contract is not designated as a hedge.The spot rates were as follows:

-Based on the preceding information,the entry to revalue the foreign currency payable to current U.S.dollar value on May 31 will include a

A) credit to Foreign Currency Transaction Gain for $350.
B) credit to Foreign Currency Transaction Gain for $200.
C) debit to Foreign Currency Transaction Loss for $550.
D) debit to Foreign Currency Transaction Loss for $350.