Complete this question by entering vour answers in the tabs below. Prepare joumal entries for Jerber to recond (1) the sale of equipment. (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settlement of the forward contract. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Nitei finter debits before credits. Jerber Electronics Incorporated sold electrical equipment to a Dutch company for 70,000 guliders (G) on May 14 , with collection due in 60 days. On the same day, Jerber entered into 60-day forward contract to sell 70,000 guilders at a forward rate of G1=$0.553. The fonword contract is not designated as a hedge Jerber's fiscal year ends on June 30 . The forword rote on June 30 for an exchange on July 13 is Gt=$0524. The 5 pot rates follow: Required: - Prepare journal entries for Jerber to record (i) the sale of equi pment, (2) the forward contract, (3) the adjusting entries on June 30 . (4) the July 13 collection of the receivable, and (5) the July settlement of the forward contract b. What was the effect on the income statement in the fiscal year ending June 30 ? c. What was the overall effect of this transaction on the income stotement? d. What would have been the overall effect on income if the forward contract had not been acquired? Complete this question by entering your answers in the tabs below. What was the effect on the income rtatement in the fiscal year ending June 30 ? Prepare journal entries for Jerber to record (1) the sale of equipment. (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the recefvable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Notei Enter dobits befere creditas. Prepare journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the Juty 13 collection of the recelvable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No joumat entry required" in the first account field. Journal entry worksheet Note: Enter debte before crests. Prepare journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Prepare journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. the Joly Prepare journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) Prepare jourmai entries for Jerber to record (1) the saic of equipment, (2) the forward contr. the July 13 collection of the receivable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Noter Enter debits before crndit. Jerber Electronics Incorporated sold electrical equipment to a Dutch company for 70,000 guilders (G) on May 14 , with collection due in 60 days. On the same day, Jerber entered into a 60 -day forward contract to sell 70,000 guilders at a forward rate of G1=$0.553. The forward contract is not designated as a hedge Jerber's fiscal year ends on June 30 . The forward rate on June 30 for an exchange on July 13 is G1=$0.524. The spot rates foliow Required: Q. Prepare journal entries for Jerber to record (1) the sole of equipment, (2) the forward contract, (3) the adjusting entries on June 30 . (4) the July 13 collection of the recevable, and (5) the July sottement of the forward contract. b. What wos the effect on the income statement in the fiscal year ending June 30 c. What was the overall effect of this transaction on the income stotement? d. What would have been the overall effect on income if the forward contract had not been acquired? Prepare joumal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the recelvable, and (5) the July settlement of the forward contract. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the receipt of U.S. dollars from the exchange broker for the Dutch guilders delivered. Notei tnter debits before credits. Jerber Electronics Incorporated sold electrical equipment to o Dutch company for 70,000 guilders (G) on May 14, with collection due in 60 days On the same day, Jerber entered into a 60 -day forward contract to sell 70,000 gulders at of forward rate of G1=$0.553. The forward contract is not designated as o hedge. Jerber's fiscal year ends on June 30 . The forward rate on June 30 for an exchange on July 13 is G1=$0.524. The spot rates follow Required: a. Prepore journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settiement of the forward contract. b. What was the effect on the income statement in the fiscal year ending June 30 ? c. What was the overoll effect of this transoction on the income statement? d. What would have been the overall effect on income if the forward contract had not been acquired? Complete this question by entering your answers in the tabs below. What was the overall effect of this transaction on the income statement? Prepare fournal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settlement of the forward contract. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to pay Dutch guilders to an exchange broker. Notes Enter dabiti belore credti. Prepare journal entries for Jerber to record (1) the sale of equipment, (2) the forward contract, (3) the adjusting entries on June 30 , (4) the July 13 collection of the receivable, and (5) the July settiement of the forward contract. Note: if no entry is required for a transaction/event, select "No journat entry required" in the first account field. Journal entry worksheet