(c) Prepare the journal entries fusing net method) that Versatile should make to record the events described, assuming that the forward contract is designated as a fair value hedge. (In eases where no entry is required, please select the option Fo journal entry required" for your answer to grade correctly, Lebve no cells blank-be certain to enter "0" wharever required.) (d) Prepare a partial trial balance of the accounts used as at December 31, Year 6. (Leave no cells blonk - be certain to enter " 0 " wherever required. Omit $ sign in your response.) On October 1, Year 6, Versatile Company contracted to sell merchandlse to a customer in Switretlond at is selling price of CHF 18,000 The contract called for the merchandise to be delivered to the customer on January 31 . Year 7 . with payment due on detivery. On October 1, Year 6. Versotie arranged a forward contract to deliver CHF.448.000 on January 31, Year 7, at a fate of CHF1 $2.21. Versatile's year-end is December 31 The inerchandise was delivered on January 31 , Year 7 . and CHr 448,000 was recelved and delivered to the bank. Exchange rates were as follows. "For contracts expiring on January 3t, Year 7 Required: (o) Prepare the journal entries (using net method) that Versatle should make to record the events described assuming that the forward contract is designated as a cash flow hedge. (In coses where no entry is required, ploase solect the option "No journol entry required" for your answer to grade correctly. Leave no cells blank - be cerain to enter " 0 " wherever required.) (b) Prepare a partial trial balance of the accounts used as at December 31, Year 6, (Leove no cells blank - be certoin to enter " wherever required. Omit $ sign in your response.) (c) Prepare the journal entries (using net method) that Versatlle should make to record the events described, assuming that the forward contract is designated as a fair value hedge, (In coses where no entry is required, please select the option "No journal entry required" for your answer to grade correctly. Leave no cells blank - be certain to enter " O " wherever required.)