Question: Make all necessary journal entries for the example, please show all calculations. Advance Accounting Chapter 14: Partnerships: Formation and Operation. Example 3: Forward Contract Designated

Make all necessary journal entries for the example, please show all

Make all necessary journal entries for the example, please show all calculations.

Advance Accounting Chapter 14: Partnerships: Formation and Operation. Example 3: Forward Contract Designated as Cash Flow Hedge Account Receivable ( Forward Contract Date Spot RateUS Dollar Change inForwardFair Value Change in Fair Value Value US Dollar Rate to 31/18 $1.305 1.316 1.300 Value $1.32 S 0 1231/17133 1.30 1 (10,783) - 5,000 $10,783 +15,783 Amerco sell goods to German customer for 1million euro and shipped goods to its German customer on December 1, 2017, with payment to be received on March 1, 2018. Amexce sign a contract with New Manhattan Bank to deliver 1million euro in three months in exchange for $1,305,000. Amece ncremental borrowing rate is 12 percent per year

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