Question: Can you help me with this requirement D please? I put in all of the journal entry titles for all 9 entries. I just need
Can you help me with this requirement D please? I put in all of the journal entry titles for all entries. I just need help with the amounts.
Assume that the company ordered the beer on August The beer arrived and the company paid for it on October On August
the company purchased a twomonth call option on euros. The company designated the option as a fair value hedge of a foreign
currency firm commitment. The fair value of the firm commitment is measured by referring to changes in the spot rate. The time value
of the option is excluded from the assessment of hedge effectiveness, and the change in time value is recognized in net income over the
life of the option. Prepare journal entries to account for the foreign currency option, foreign currency firm commitment, and import
purchase.
Note: If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Do not round
intermediate calculations.
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