February $1,2022,$ are as follows:

a For settlement on February $1,2022$

b Ignore discounting in the computation of fair values.

a$.$ Prepare the journal entries to record the sale and all adjustments required for the forecasted sale and forward contract at October $15,2021,$ December $31,2021,$ and February $1,2022.$

Note: If no entry is required, select $"$No entry" as your answers under Description and leave the debit and credit answers blank $($zero$).$

Hedged Transaction

CF Hedge

b$.$ Reconcile to the forward rate at the forward contract's inception the net cash received for both the sale of goods and the settlement of the forward$-$contract derivative.

Net cash received for sale of goods and settlement of the forward contract derivative is:

$

b

c$.$ What amount of sales was recognized in the quarter ending December $31,2021?$

Note: Do not use a negative sign with any of your answers below.

$$0$

What amount of sales was recognized in the quarter ending March $31,2022?$

$

What is the total amount of sales recognized across the quarters ending December $31,2021,$ and March $31,2022?$

$