$31.$ Exchange rates $(\backslash (\backslash$$ $/\backslash ))$ are as follows: $\backslash$begin$\{$tabular$\}\{|$l$|$c$|$c$|\}\backslash$hline & $\backslash$multicolumn$\{2\}\{$c$|\}\{\backslash$begin$\{$tabular$\}\{$c$\}$ Forward rate for delivery $\backslash \backslash$ February $3,2021\backslash$end$\{$tabular$\}\}\backslash \backslash \backslash$hline November $3,2020$ & $\backslash (\backslash$$ $1\mathrm{.}4168\backslash )$ & $\backslash (\backslash$$ $1\mathrm{.}4166\backslash )\backslash \backslash \backslash$hline December $31,2020$ & $1\mathrm{.}4164$ & $1\mathrm{.}4163\backslash \backslash \backslash$hline February $3,2021$ & $1\mathrm{.}4162$ & $--\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$ a$.$ Prepare the journal entries Robin Franchises made on November $3,2020$ and February $3,2021,$ as well as the required end of year adjusting entry. $\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|\}$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$c$|\}\{$General Journal$\}\backslash \backslash$

$\backslash$hline Date & Description & Debit & Credit $\backslash \backslash$

$\backslash$hline $11/03/20$ & $*$ & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & To record sale to franchisee. & & $\backslash \backslash$

$\backslash$hline $12/31/20$ & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & To restate the receivable. & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & $*$ & & $\backslash \backslash$

$\backslash$hline & To restate the forward contract. & & $\backslash \backslash$

$\backslash$hline $02/03/21$ & $*$ & & $\backslash \backslash$

$\backslash$hline & $*$ & & $\backslash \backslash$

$\backslash$hline & To restate the receivable. & & $\backslash \backslash$

$\backslash$hline & $*$ & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & To restate the forward sale contract. & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & $*$ & & $\backslash \backslash$

$\backslash$hline & To record receipt of payment from franchisee. & & $\backslash \backslash$

$\backslash$hline & $\backslash (\backslash$uparrow $\backslash )$ & & $\backslash \backslash$

$\backslash$hline & $*$ & & $\backslash \backslash$

$\backslash$hline & Foreign currency & & $\backslash \backslash$

$\backslash$hline & To record settlement of the forward sale contract. & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

b$.$ Calculate the cash gain or loss realized by Robin Franchises by hedging compared with not hedging.

$\backslash (\backslash$$ $\backslash )$