A Moving to the next question prevents changes to this answer. Question 2 of 4 Question 2 15 points Save Answer Nanco Company sold inventory on Odober 1, 2020 to a foreign customer for 850,000 units of foreign currency (FC) duo on January 31, 2021. Simultaneously, Nance entered into a forward contract to sell 850,000 units of FC on January 31, 2021 at the forward rate of $.75. Payment was received from the foreign customer on January 31, 2021. Nance company ends its fiscal year on December 31. The following exchange rates were quoted: Forward Rate Date Spot Roto(Delivery on 1/31/2021) 0.75 10/1/2020 0.72 12/31/20200.73 0.79 1/31/2021 0.76 (Reminder: To avoid confusion as explained in class, only use the following accounts to make journal entries for foreign currency transactions: Inventory, Sales, Cash, Machine, Equipment, A/Payable (FC), Receivable (FC), Exchange GL, Fwd Contract, Contract GilContract GL- OCI, Firm Commitment, Commitment G., Option, Option G., Option GIL-OCI.) Required: A. Prepare all journal entries relative to the above event by Nance on October 1, 2020. Buy/Sell Account Dr. Account Cr. B. Prepare all joumal entries relative to the above event by Nance on December 31, 2020 Buy/Sell Account Dr. Buy/Sell Account Dr. Cr. Account Dr. Financing Account Account Cr. C. Prepare all journal entries relative to the above event by Nance on January 31, 2021. Buy/Sell Account Dr. Account Cr. Account Dr. Account Cr. Financing Account Dr. Account Cr. Account Dr. Account Cr. Account Cr. C. Prepare all journal entries relative to the above event by Nance on January 31, 2021. Buy/Sell Account Dr. Account Cr. I Account Dr. For Blank 16 Account Cr. Financing Account Dr. Account Cr. Dr. Account Account Cr