Question: please for this question i kindly request full organized answer Question (2): (10 marks) 1. On December 1, 2013, a US firm sell 100 units

please for this question i kindly request full organized answer

Question (2): (10 marks) 1. On December 1, 2013, a US firm sell 100 units of inventory to a French firm for 500,000 to be received on March 1, 2014. 2. The firm's fiscal year-end is December 31 . 3. On December 1, 2013, the US firm entered into a forward contract to sell 500,000 on March 1, 2014, for $1.10. 4. The spot and forward rates for euros at various times are as follows: Instructions: 1. Prepare the journal entries required to record the transactions in the US firm

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