Brody Company purchased interior decoration material from Jessica Company for 450,000 on December 1, 2019, with payment due on February 28, 2020. Additionally, on December 1, Brody entered a 90-day forward contract to purchase 450,000. The forward contract was acquired to manage the exposed net liability position in Euro, but it was not designated as a hedge. The relevant direct exchange rates were: SPOT FORWARD 12/1/2019 $ 1.10 $ 1.17 (90 days) 12/31/2019 $ 1.15 $ 1.13 (60 days) 2/28/2020 $ 1.11 REQUIRED: ANSWER THE FOLLOWING QUESTIONS RELATED TO THE JOURNAL ENTRIES RECORDED BY BRODY COMPANY: NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. The journal entry on 12/01/19 to record the purchase from the foreign vendor would include: A CREDIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 450000 A The journal entry on 12/01/19 to record the entry into the forward contract would include: A CREDIT TO US DOLLARS PAYABLE TO FX BROKER IN THE AMOUNT OF: 526500 The journal entry on 12/31/19 to record the revaluation of the FC Payable to Vendor would include: A CREDIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 22500 The journal entry on 12/31/19 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: A The 12/31/19 Balance Sheet would include: A LIABILITY FOR FX CONTRACT (NET) IN THE AMOUNT OF: 499500 The 12/31/19 Balance Sheet would include: A LIABILITY FOR FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 517500 A/ The journal entry on 02/28/20 to record the revaluation of the FC Payable to Vendor would include: A DEBIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: A The journal entry on 02/28/20 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: The journal entry on 02/28/20 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: A The journal entry on 02/28/20 to record the settlement of the FC Payable to Vendor would include: A DEBIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: The journal entry on 02/28/20 to record the settlement of the US Dollars Payable to FX Broker would include: A CREDIT TO CASH IN THE AMOUNT OF: 4 Brody Company purchased interior decoration material from Jessica Company for 450,000 on December 1, 2019, with payment due on February 28, 2020. Additionally, on December 1, Brody entered a 90-day forward contract to purchase 450,000. The forward contract was acquired to manage the exposed net liability position in Euro, but it was not designated as a hedge. The relevant direct exchange rates were: SPOT FORWARD 12/1/2019 $ 1.10 $ 1.17 (90 days) 12/31/2019 $ 1.15 $ 1.13 (60 days) 2/28/2020 $ 1.11 REQUIRED: ANSWER THE FOLLOWING QUESTIONS RELATED TO THE JOURNAL ENTRIES RECORDED BY BRODY COMPANY: NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. The journal entry on 12/01/19 to record the purchase from the foreign vendor would include: A CREDIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 450000 A The journal entry on 12/01/19 to record the entry into the forward contract would include: A CREDIT TO US DOLLARS PAYABLE TO FX BROKER IN THE AMOUNT OF: 526500 The journal entry on 12/31/19 to record the revaluation of the FC Payable to Vendor would include: A CREDIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 22500 The journal entry on 12/31/19 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: A The 12/31/19 Balance Sheet would include: A LIABILITY FOR FX CONTRACT (NET) IN THE AMOUNT OF: 499500 The 12/31/19 Balance Sheet would include: A LIABILITY FOR FC PAYABLE TO VENDOR () IN THE AMOUNT OF: 517500 A/ The journal entry on 02/28/20 to record the revaluation of the FC Payable to Vendor would include: A DEBIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: A The journal entry on 02/28/20 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: The journal entry on 02/28/20 to record the revaluation of the FC Receivable from FX Broker would include: A DEBIT TO FOREIGN CURRENCY TRANSACTION LOSS IN THE AMOUNT OF: A The journal entry on 02/28/20 to record the settlement of the FC Payable to Vendor would include: A DEBIT TO FC PAYABLE TO VENDOR () IN THE AMOUNT OF: The journal entry on 02/28/20 to record the settlement of the US Dollars Payable to FX Broker would include: A CREDIT TO CASH IN THE AMOUNT OF: 4