Example: On 12/1/21, we sell goods on account with a 1,000,000 euro receivable in three months. To hedge against the possibility of FX losses, we also enter into a forward contract with a bank to sell euros for dollars in three months. Exchange rates are as follows:

Date	Spot rate	Forward rate to Mar 1
12/1/21	$0.92	$0.905
12/31/21	0.93	0.916
3/1/22	0.90	0.900

Assume the firm chooses a cash flow hedge.

a) Entry on 12/1/21:??

b) Entries on 12/31/21:??

c) Entries on 3/1/22:??