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1 Record the sales and foreign currency account receivable. 2 Record the forward contract. 3 Record the entry for changes in the exchange rate. 4

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1 Record the sales and foreign currency account receivable. 2 Record the forward contract. 3 Record the entry for changes in the exchange rate. 4 Record the change in the fair value of the forward contract. Record the gain or loss on the forward contract. Record the allocation of the premium or discount. Record the entry for changes in the exchange rate. 5 6 7

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