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On October 15, 2018, Bonzi Corporation, a U.S. based company received a cancelable purchase order from a Luxembourg-based retailer. A cancelable purchase order is equivalent to a forecasted sale. The purchase order states that our company will sell to the Luxembourgish company, on February 1, 2019, 70,000 units of an inventory item with a sales price of 13.00 each. The purchase order also specifies that the Luxembourgish company will make payment in Euros on that same date. Our company does recurring business with the Luxembourgish company; however, the cancelable purchase order includes no monetary penalties for nonperformance. Also, on October 15, 2018, our company entered into a contract with a foreign currency exchange broker to sell 910,000 (for settlement on February 1, 2019) to mitigate the risk of exchange rate fluctuation from this forecasted sale. We will receive $1.25 per 1, which is the forward rate on October 15, 2018, for settlement on February 1, 2019. Our companys functional currency is the U.S. dollar and our forward exchange contract qualifies as a cash flow hedge. The relevant exchange rates and related balances for the period from October 15, 2018, to February 1, 2019, are as follows

				DerivativeForward
Date	Spot Rate ($US = 1)	Forecasted Sale Transaction	Forward Ratea ($US = 1)	FV Asset (Liability)b	Change in FV
October 15, 2018	1.28		1.25
December 31, 2018	1.23		1.22	$27,300	$27,300
February 1, 2019	1.21	$1,101,100	1.21	36,400	9,100

1. What is the net cash received from settlement of the receivable and forward-contract derivative?

2.What amount of sales was recognized in the quarter ending March 31, 2019?

3. What amount Forward Contract Asset (Liability) will be on our balance sheet for the quarter ending December 31, 2018?