Brandlin Company of Anahelm, Callfornla, sells parts to a foreign customer on December 1, 2017, with payment of 29,000 korunas to be recelved 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: Forward Rate (to March 1, 2818) $ 4.775 Spot Rate Date December 1, 2017 December 31, 2817 March 1, 2818 $ 4.78 4.88 4.95 4.988 N/A Brandlin's Incremental borrowing rate Is 18 percent. The present value factor for two months at an annual Interest rate of 18 percent (1.5 percent per month) Is 0.9707. Brandlin must close Its books and prepare financial statements at December 31 a-1. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency recelvable and recognizes any premlum or discount using the straight-lIne method, prepare Journal entries for these transactions In U.S. dollars. a-2. What is the Impact on 2017 net Income? a-3. What is the Impact on 2018 net Income? a-4. What is the Impact on net Income over the two accounting perlods? b-1. Assuming that Brandlin designates the forward contract as a falr value hedge of a foreign currency recelvable, prepare Journal entries for these transactions In U.S. 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. Req A1Req A2 to A4 Req B1Req B2 to B4 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 U.S. dollars. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to 2 decimal places.) Show lessA View transaction list Import a new list 12 1 Record the sales and foreign currency account receivable. 2 Record the forward contract. 3 Record the entry for changes in the exchange rate 4 Record the change in the fair value of the forward contract. Credit 5 Record the gain or loss on the forward contract. Record the allocation of the premium or discount. Record the entry for changes in the exchange rate 6 7 Note: journal entry has been entered Clear entry Record entry View general jourmal Brandlin Company of Anahelm, Callfornla, sells parts to a foreign customer on December 1, 2017, with payment of 29,000 korunas to be recelved 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: Forward Rate (to March 1, 2818) $ 4.775 Spot Rate Date December 1, 2017 December 31, 2817 March 1, 2818 $ 4.78 4.88 4.95 4.988 N/A Brandlin's Incremental borrowing rate Is 18 percent. The present value factor for two months at an annual Interest rate of 18 percent (1.5 percent per month) Is 0.9707. Brandlin must close Its books and prepare financial statements at December 31 a-1. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency recelvable and recognizes any premlum or discount using the straight-lIne method, prepare Journal entries for these transactions In U.S. dollars. a-2. What is the Impact on 2017 net Income? a-3. What is the Impact on 2018 net Income? a-4. What is the Impact on net Income over the two accounting perlods? b-1. Assuming that Brandlin designates the forward contract as a falr value hedge of a foreign currency recelvable, prepare Journal entries for these transactions In U.S. 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. Req A1Req A2 to A4 Req B1Req B2 to B4 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 U.S. dollars. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to 2 decimal places.) Show lessA View transaction list Import a new list 12 1 Record the sales and foreign currency account receivable. 2 Record the forward contract. 3 Record the entry for changes in the exchange rate 4 Record the change in the fair value of the forward contract. Credit 5 Record the gain or loss on the forward contract. Record the allocation of the premium or discount. Record the entry for changes in the exchange rate 6 7 Note: journal entry has been entered Clear entry Record entry View general jourmal