1. Baker Corp. (a U.S. company) made a sale to a foreign customer on September 15, 2016, for 100,000 stickle dollars (SD). Payment was received on October 15, 2016. The following spot rates applied: Date January 1, 2016 September 15, 2016 September 30, 2016 October 15, 2016 December 31, 2016 Required: Spot Rate $0.31 SD $1 = 2.08 SD $0.5 1 SD $1 = 2.27 SD $0.41 SD Prepare all journal entries through December 31, 2016 for Baker Corp. in connection with this sale. Assume that the company closes its books on September 30, 2016 and December 31, 2016 to prepare interim and annual financial reports. Furthermore, assume that journal entries for inventory and cost- of-good sold are not needed. 2. List two characteristics that differentiate the accounting treatment for a cash flow hedge from a fair value hedge for a forward contract. a