Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2011, with payment of 20,000 korunas to be received on March 1, 2012. Brandlin enters into a forward contract on December 1, 2011, to sell 20,000 korunas on March 1, 2012. Relevant exchange rates for the koruna on various dates are as follows: Date Spot Rate Forward Rate (to March 1, 2012) December 1, 2011 $ 2.00 $2.075 December 31, 2011 2.10 2.200 March 1, 2012 2.25 N/A Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an annual interest rate of 12 percent (1 percent per month) is 0.9803. Brandlin must close its books and prepare financial statements at December 31. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency receivable and recognizes any premium or discount using the straight-line method. (a-1) Prepare journal entries for these transactions in U.S. dollars