Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017 with payment of 29.000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 29.000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: Spot Rata TO (to Mach 1, 2011) December 1, 2017 December 31, 2017 March 2010 Brandin's incremental borrowing rate is 18 percent. The present value factor for two months at an annual interest rate of 18 percent percent per month is 0.9707 Brandiin must close its books and prepare financial statements et December 31 * 1. Assuming that Brandin 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, prepare journal entries for these transactions in US dollars. 2. What is the impact on 2017 net income? 3. What is the impact on 2018 net income? > 4. What is the impact on net income over the two accounting periods? 1 Assuming that Brandin designates the forward contract as a fair value hedge of a foreign currency receivable prepare journal entries for these transactions in US dollars 2 What is the impact on 2017 net income! b-3. What is the impact on 2018 net income? b 4 What is the impact on net income over the two accounting pel ? Complete this question by entering your answers in the tabs below. Reg A1 Reg Ate Ad Reg 31 Assuming that Brandi designates the forward contract as a cash flow hedge of foreign currency receivable and recognizes any premium or discount using the straight line method, prepare foumal entries for these transactions in U.S. dollars. (If no entry required for transaction/event, select "No joumal entry required in the Pit necount field. Do not round intermediate caleations Round your final answers to 2 decimal places) View transaction et Journal entry worksheet O 6 6 O ... 12 Record the entry to adjust the carrying out of the forward contratto Record entry Centry View general journal Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017 with payment of 29.000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 29.000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: Spot Rata TO (to Mach 1, 2011) December 1, 2017 December 31, 2017 March 2010 Brandin's incremental borrowing rate is 18 percent. The present value factor for two months at an annual interest rate of 18 percent percent per month is 0.9707 Brandiin must close its books and prepare financial statements et December 31 * 1. Assuming that Brandin 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, prepare journal entries for these transactions in US dollars. 2. What is the impact on 2017 net income? 3. What is the impact on 2018 net income? > 4. What is the impact on net income over the two accounting periods? 1 Assuming that Brandin designates the forward contract as a fair value hedge of a foreign currency receivable prepare journal entries for these transactions in US dollars 2 What is the impact on 2017 net income! b-3. What is the impact on 2018 net income? b 4 What is the impact on net income over the two accounting pel ? Complete this question by entering your answers in the tabs below. Reg A1 Reg Ate Ad Reg 31 Assuming that Brandi designates the forward contract as a cash flow hedge of foreign currency receivable and recognizes any premium or discount using the straight line method, prepare foumal entries for these transactions in U.S. dollars. (If no entry required for transaction/event, select "No joumal entry required in the Pit necount field. Do not round intermediate caleations Round your final answers to 2 decimal places) View transaction et Journal entry worksheet O 6 6 O ... 12 Record the entry to adjust the carrying out of the forward contratto Record entry Centry View general journal
