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Cts to manage Assume that Maple used ton POX5. 1. On March 1, 20X5, Maple, anticipating a weaker Canadian dollar on the May 30, 20X5,
Cts to manage Assume that Maple used ton POX5. 1. On March 1, 20X5, Maple, anticipating a weaker Canadian dollar on the May 30, 20X5, settlement date, enter forward contract to sell C$46,000 at a forward exchange rate of C$1 = $0.64. The forward contract was not de 2. On July 1, 20X5, Maple, anticipating a strengthening of the yen on the October 29, 20X5, settlement date, ent forward contract to purchase 460,000 at a forward exchange rate of 1 = $0.105. The forward contract was de value hedge of a firm commitment 3. On November 16, 20X5, Maple, anticipating a strengthening of the pound on the January 15, 20X6, settlement 60-day undesignated forward exchange contract to purchase 26,000 at a forward exchange rate of 1 = $167 Required: Prepare journal entries to record Maple's foreign currency activities during 2005 and 20X6. (If no entry is require transaction, select "No journal entry required" in the first account field.) a-1 View transaction list 1 Record the entry for the 90-day forward contract signed for the forecasted foreign currency transaction. asted 2 Record the revaluation of the foreign currency. 3 Record the payment to the exchange broker in accordance with the forward contract. 4 Record the receipt of cash from the exchange broker. Debit Credit
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