Icebreaker Company $($a U$.$S$.-$based company$)$sells parts to a foreign customer on December $1,2023,$with payment of$10,000$dinars to be received on March $1,2024.$Icebreaker enters into a forward contract on December $1,2023,$to sell $10,000$dinars on March $1,2024.$The forward points on the forward contract are excluded in assessing hedge effectiveness and are amortized to net income using a straight$-$line method on a monthly basis. Relevant exchange rates for the dinar on various dates are as follows:

December $1,2023$: Spot rate: $$2\mathrm{.}80,$Forward Rate $($to March $1,2024)$$$2\mathrm{.}875$

December $31,2023$: Spot rate: $$2\mathrm{.}90,$Forward Rate $($to March $1,2024)$$$3\mathrm{.}000$

March $1,2024$: Spot rate: $$3\mathrm{.}05,$Forward Rate $($to March $1,2024)$N$/$A

Icebreaker must close its books and prepare financial statements at December $31.$

Assuming that Icebreaker designates the forward contract as a cash flow hedge of a foreign currency receivable, prepare journal entries for the sale and foreign currency forward contract in U$.$S$.$dollars$.$

Note: If no entry is required for a transaction$/$event$,$select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations. Assuming that Icebreaker designates the forward contract as a fair value hedge of a foreign currency receivable, prepare journal entries for the sale and foreign currency forward contract in U$.$S$.$ dollars.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations.

b$-2.$ What is the impact on $2023$ net income?

b$-3.$ What is the impact on $2024$ net income?

b$-4.$ What is the impact on net income over the two accounting periods?

Note: For all requirements, do not round intermediate calculations. Negative amounts should be entered with a minus sign.