A. Is there a Premium or Discount on the forward contract?

B. Determine the balance in the AP account on the transaction date.

C. Determine the balance in the AP account on December 31, 2021.

D. Determine the foreign exchange gain or loss on December 31, 2021.

E. Determine the balance in the Forward Contract account on December 31, 2021.

F. Determine the gain or loss attributable to the hedge on December 31, 2021.

G. Determine the foreign exchange gain or loss on April 1, 2022.

On October 2021 , Chandler USA purchased goods on credit from a Japanese supplier in the amount of 2,000,000 yen. The settlement date is April 1,2022. Chandler has a fiscal year-end of December 31 and uses USD as its functional and reporting currency. To hedge its foreign exchange exposure, Chandler entered into a forward exchange contract designated as a fair value hedge. On October 1,2021 , Chandler signed a contract to purchase 2,000,000 yen in six months. Interest is not considered to be sianificant