Cocoa Inc entered into a forward contract. The contract is designated as a fair value hedge of a foreign currency receivable. A. Three months after the sale, at the Balance Sheet Date, there was a foreign currency exchange gain of $1100. What is the journal entry? B. Three months after the sale, at the Balance Sheet Date, there was a loss on the contract of $520. What is the journal entry? When typing your answer, please type debit and credit in front of the account names as the spacing may get changed when you submit your exam.