4 Loki Ltd, a New Zealand export company, has sold A$1,000,000 of products to Australia and it wishes to hedge the currency risk associated with this transaction. Loki Ltd will receive the money in exactly two months' time. At the time of sale, the spot rate of exchange is A$0.90, that is, NZ$1.00 buys A$0.90. Required For each of the following independent scenarios (a), (b), and (c), provide monthly journal entries. Show all workings clearly. Full marks are only given where a solution is clearly supported with workings. (a) Loki Ltd decides NOT to hedge. The spot exchange rates are shown in the table below. Spot Rates At the date of the sale One month after the sale Two months after the sale (i.e., at settlement) 0.90 0.93 0.95 Show the journal entry to record the sale and any additional journal entries that are required through to (and including) settlement. Also Calculate the overall gain or loss from accounts receivable