A Ltd, an Australian company, exports vending machines to B Ltd. (UK company). On 1 March 2020, B Ltd ordered vending machines to the value of GBPE 2 million from A Ltd. on FOB Melbourne. The machines were shipped on 1 June 2020 and delivered on 30 June 2020. The amount is due for payment by B Ltd on 31 December 2020. On the date of contract (i.e., 1 March 2020), A Ltd entered into a forward contract with NBA Bank for the delivery of 2 million on 31 December 2020.

The relevant exchange rates are provided below:

Date	Spot rate	Forward rate
1 March 2020	0.50	0.54
1 June 2020	0.48	0.49
30 June 2020	0.44	0.47
31 December 2020	0.52	0.52

A Ltd has a functional currency of Australian dollars (AUD) and a 30 June reporting date.

Provide all necessary journal entries for A Ltd to account for both the sales of vending machines and the forward contract with NBA Bank. (All workings must be provided. Round to the nearest dollar. Narrations are NOT required.)