Can anyone help me with 2 problems ofForeign Currency Transaction?

PROBLEM I (15 POINTS) On November 1, 2015, Americo, Corporation purchased wine on credit from Venezia Company for 400,000. Payment is not due for 90 days. Thus, the transaction will be settled on January 30, 2016. On November 1, 2015, Americo, Corporation also entered into a 90-day forward contract to purchase 400,000. The forward contract is not designated as a hedge. The direct exchange rates were as follows: SPOT FORWARD 11/1/2015 $ 1.40 $ 12/31/2015 $ 1.35 $ 1/30/2016 $ 1.37 1.42 (90 days) 1.34 (30 days) REQUIRED: Prepare the required information below for both the original (underlying) transaction and the related forward contract. BE SURE TO CLEARLY SHOW ALL OF YOUR WORK. JOURNAL ENTRIES AT NOVEMBER 1, 2015 (TRANSACTION DATE): Foreign Currency Transaction Forward Contract DECEMBER 31, 2015 (YEAR-END): JOURNAL ENTRIES: Foreign Currency Transaction Forward Contract FINANCIAL STATEMENT PRESENTATION INCOME STATEMENT JOURNAL ENTRIES AT JANUARY 30, 2016 (SETTLEMENT DATE): Foreign Currency Transaction BALANCE SHEET Forward Contract 1 PROBLEM II (15 POINTS) On November 1, 2015, Americo, Corporation sold wine on credit to Venezia Company for 400,000. Payment is not due for 90 days. Thus, the transaction will be settled on January 30, 2016. On November 1, 2015, Americo, Corporation also entered into a 90-day forward contract to sell 400,000. The forward contract is not designated as a hedge. The direct exchange rates were as follows: SPOT FORWARD 11/1/2015 $ 1.40 $ 12/31/2015 $ 1.35 $ 1/30/2016 $ 1.37 1.42 (90 days) 1.34 (30 days) REQUIRED: Prepare the required information below for both the original (underlying) transaction and the related forward contract. BE SURE TO CLEARLY SHOW ALL OF YOUR WORK. JOURNAL ENTRIES AT NOVEMBER 1, 2015 (TRANSACTION DATE): Foreign Currency Transaction Forward Contract DECEMBER 31, 2015 (YEAR-END): JOURNAL ENTRIES: Foreign Currency Transaction Forward Contract FINANCIAL STATEMENT PRESENTATION INCOME STATEMENT JOURNAL ENTRIES AT JANUARY 30, 2016 (SETTLEMENT DATE): Foreign Currency Transaction BALANCE SHEET Forward Contract