Icebreaker Company $($a U$.$S$.-$based company$)$ sells parts to a foreign customer on December $1,2023,$ with payment of $19,000$ dinars to

be received on March $1,2024.$ Icebreaker enters into a forward contract on December $1,2023,$ to sell $19,000$ dinars on March $1,2024.$

The forward points on the forward contract are excluded in assessing hedge effectiveness and are amortized to net income using a

straight$-$line method on a monthly basis. Relevant exchange rates for the dinar on various dates are as follows:

Icebreaker must close its books and prepare financial statements at December $31.$

Assuming that Icebreaker designates the forward contract as a cash flow hedge of a foreign currency receivable, prepare

journal entries for the sale and foreign currency forward contract in U$.$S$.$ dollars.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round

intermediate calculations.

a$-2.$ What is the impact on $2023$ net income?

a$-3.$ What is the impact on $2024$ net income?

a$-4.$ What is the impact on net income over the two accounting periods?

Note: For all requirements, do not round intermediate calculations. Negative amounts should be entered with a minus

sign.

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a$-2.$ Impact on $2023$ net income

a$-3.$ Impact on $2024$ net income

a$-4.$ Impact on net income over $2023$ and $2024$