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Current Attempt in Progress On March 15, 2020, Shamrock Corporation entered into a forward contract with the local bank to purchase 4104,000 (RMB) for $23,920
Current Attempt in Progress On March 15, 2020, Shamrock Corporation entered into a forward contract with the local bank to purchase 4104,000 (RMB) for $23,920 Canadian dollars in two months' time. On March 31, Shamrock's year-end, the fair value of the forward contract (representing the present value of the contract's future cash flows) was $470. Prepare the journal entries on March 15 and March 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit
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