1=$01740. Collection was made on July 3 when the rate was Dkr 1=$01743 2. On July 22. Tex sold copper fittings to a company in London for 38,000 with payment due on September 20. Also, on July 22 . Tex entered into a 60-day forward contract to sell $38,000 at a forward rate of 51=$1,630. The forward contract is not designated as a hedge. The spot rates follow. 3uly22September20E1=$1,580f1=$1,612 3. Tex sold storage devices to a Canadian firm for C$72,000 (Canadian dollars) on October 11, with payment due on November 10 On October 11, Tex entered into a 30 -day forward contract to sell Canadian dollars at a forward rate of C\$1 - $0.730. The forward contract is not designated as a hedge. The spot rates were as follows: \[ \begin{array}{ll} \text { october } 11 & \multicolumn{1}{l}{} \\ \text { Noventer 10 } & \text { C\$1 }=50.735 \\ \end{array} \] Required: Prepare journaf entries to record Tex's foreign sales of its products, use of forward contracts, and settemients of the recetvabies Complete this question by entering your answers in the tabs below. Prepare fournal entries to record Tex's foreign sales of its products, use of forward contract, and sotthments of the recivables is Journal entry worksheet 2.3 Fecord the foreign eale and forelign cuereacy recelvables Record the entry to revalue the foreign currency receivable to the U.S. dollar equivalent value. Note: Enter debits before credits. Record the entry to collect the accounts receivable in Danish kroner. Note: Enter debits before credits