Need item # 4, 5, 6, & 8

4)Record the change in the fair value of the forward contract.

5) Record the gain or loss on the forward contract.

6) Record the allocation of the premium or discount.

8) Record the entry to adjust the carrying value of the forward contract to its current fair value.

Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2015, with payment of 21,000 korunas to be received on March 1, 2016. Brandlin enters into a forward contract on December 1, 2015, to sell 21,000 korunas on March 1, 2016. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2015 December 31, 2015 March 1, 2016 Spot Rate $ 3.20 3.30 3.45 Forward Rate (to March 1, 2016) $ 3.275 3.400 N/A Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an annual interest rate of 12 percent (1 percent per month) is 0.9803. Brandlin must close its books and prepare financial statements at December 31. b-1. Assuming that Brandlin designates the forward contract as a fair value hedge of a foreign currency receivable, prepare journal entries for these transactions in U.S. dollars. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to 2 decimal places.) Answer is not complete. No General Journal Credit Date 12/01/2015 Debit 67,200.00 Accounts receivable (K) Sales 67,200.00 12/01/2015 No journal entry required 12/31/2015 2,100.00 Accounts receivable (K) Foreign exchange gain 2,100.00 12/31/2015 No Transaction Recorded 12/31/2015 Loss on forward contract 03/01/2016 3,150.00 Accounts receivable (K) Foreign exchange gain 3,150.00 8 03/01/2016 No Transaction Recorded 03/01/2016 72,450.00 Foreign currency (K) Accounts receivable (K) 72,450.00 03/01/2016 Cash Forward contract Foreign currency (K) 68,775.00 3,675.00 72,450.00