On November 12,Kendra,Inc B) C) D) E) No Journal Entry Is Required Until the Amount Is

On November 12,Kendra,Inc.,a U.S.Company,sold merchandise on credit to Nakakura Company of Japan at a price of 1,500,000 yen.The exchange rate was $0.00837 per yen on the date of sale.On December 31,when Kendra prepared its financial statements,the exchange rate was $0.00843.Nakakura Company paid in full on January 12,when the exchange rate was $0.00861.On December 31,Kendra should prepare the following journal entry for this transaction:

A) $$\begin{array} { | l | c | l | } \hline \text { Sales } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 90 & \\\hline \quad \text { Foreign Exchange Gain } \ldots \ldots \ldots \ldots \ldots && 90 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Foreign Exchange Loss} \ldots \ldots \ldots& 90 & \\\hline \quad\text { Sales } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & & 90 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Accounts Receivable - Nakakura Company} \ldots \ldots \ldots& 90 & \\\hline \quad\text { Foreion Exchange Gain } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & & 90 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Foreign Exchange Gain or Loss } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 90 \\\hline \quad \text { Accounts Receivable - Nakakura Company} \ldots \ldots \ldots& &90 \\\hline\end{array}$$
E) No journal entry is required until the amount is collected