Tuliptime Limited Sold American Fashions to a Japanese Company at a Price

Tuliptime Limited sold American fashions to a Japanese company at a price of 4 million yen. On the sale date, the exchange rate was $.0100 per Japanese yen, but when Tuliptime received payment from its customer, the exchange rate was $.0103 per Japanese yen. When the foreign receivable was collected, Tuliptime:

A) Credited Sales for $1,200.
B) Debited Cash for $40,000.
C) Credited Gain on Fluctuation of Foreign Currency for $1,200.
D) Debited Loss on Fluctuation of Foreign Currency for $1,200.