Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017 with payment of 23,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 23,000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: Spot Rate $ 4.10 Date December 1, 2017 December 31, 2017 March 1, 2018 Fonard Rate (to March 1, 2018) $ 4.175 4.389 4.35 NA Brandlin's incremental borrowing rate is 9 percent. The present value factor for two months at an annual interest rate of 9 percent (0.75 percent per month) is 0.9852. Brandlin must close its books and prepare financial statements at December 31 -1. 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, prepare journal entries for these transactions in US dollars. .-2. What is the impact on 2017 net income? 6-3. What is the impact on 2018 net income? -4. What is the impact on net income over the two accounting periods? b-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. b-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 periods? Complete this question by entering your answers in the tabs below