An entity obtained a foreign loan on $1$ January $2019.$ The interest for the year has not been paid but has been accrued. Assume the accrued interest balance relating to this foreign loan was correctly calculated as R$45000$ on $31$ December $2019.$ Calculate the foreign exchange gain or loss that will be recognised in the following journal entry if the following exchange rates were applicable:

Average exchange rate from $1$ January $201931$ December $2019$ is $1$$$=$R$7,92$Spot rate on $31$ December $2019$ is $1$$$=$R$8$

$$

DR

R

CR

R

Interest expense $($P$/$L$)$

$?$

$$

Accrued interest $($SFP$)$

$$

$45000$

Foreign exchange gain or loss $($P$/$L$)$

$?$

$?$

a$.$

R$450$gain

b$.$

R$456$loss

c$.$

R$450$loss

d$.$

R$456$gain

e$.$

No foreign exchange gain or loss.