Icebroaker Company (a U.S +based cornpany) seits parts to a foreign curtomer on Docernber 1.2020, whit payment of 32 oo0 dinars to be fecelved on March 1, 2021 leebreaker eners into a forward controct on December 1.2020, to sel 32,000 dinars on March 1 , 2021 . The forwatd points on the forward contract are excluded in assessing hedge effectiveness and are amortized to net income using a straight-ine method on a monthly basis. Relevant exchange rates for the diar on various dates are as follows: lcebreaker must cioseits books and prepare financial statements at December 31. a-1. Assuming that fcebreaker designates the forward contract as a cash fiow hedge of a foreign currency receivable, prepare journal enthies for the sale ond foreign cuntency forward contract in U.S. dollars. a-2. What is the impact on 2020 ret income? a-3. What is the impact on 2021 net income? a.4. What is the impact on net income over the two accounting periods? b-1. Assuming that fcelreaket designates the forward contract as a fair value hedge of a foreign cuerency receivable, prepare journal entries for the sale and foreign currency forward contract in U.S. doliars. b-2. What is the impact on 2020 net income? b-3. What is the inspet on 2021 net income? b-4. What is the impact on net income over the two accounting periods? Complete this question by entering your answers in the tabs below. Aswuming that fcedreaker designates the forward contract as a cash fow hedge of a foreign currency receivable, prepare journel entries for the sale and foreign currency forward contract in U.S. dollars. \{If no entry is reguired for a transactionvirvent; select "?i. foumal entry required" in the first gecount field. Do not round intermediate calculations.) Complete thil question by entering your arswwrs in the tabs beler. Journal entry worksheet 2. Whot is the impact and foreign currency forward contract in U.S. doliors. a-2. What is the impact on 2020 net income? a-3. What is the impact on 2021 net income? a-4. What is the impact on net income over the two accounting periods? b-1. Assuming that lcebreaker designates the forward contract as a falr value hedge of a forelgn currency recelvabie, prepare journal entries for the sale and foreign currency forward contract in U.S. dotlars. b.2. What is the impact on 2020 net income? b-3. What is the impoct on 2021 net income? b-4. What is the impect on net income over the two accounting periods? Q Answer is not complete. Complete this uestion by entering your answers in the tabs below. a-2. What is the impact on 2020 net income? a-3. What is the impact on 2021 net income? a.4. What is the impact on net income over the two accounting periods? (Negative amounts should be entered with a minus sign. Da not round intermediate calcutations-) a.2. What is the impact on 2020 net incomet- a-3. What is the impact on 2021 net incomen? a-4. What is the impact on net income over the two accounting periods? b-4. Assuming that licebreaker designates the forward contract as a fair yalue hedge of a foreign currency fecelvable. prepate jocinai eneries for the sale and foreign currency forward contract in U.S. doliars: b-2. What is the impact on 2020 thet income? b.3. What is the impact or 2021 net income? b-4. What is the impact on net income over the fwo accounting periods? (4) Answer is not conolete. Complete this question by entering your answers in the tabs below, Aswming that foebresker designates the forward contract as a far value hedge cf a foreign currency receivabie, prepare journat entres for the sale and foreign currency forpard centract in 0.5. dol arg. (I No entry is requeed for a tranzactionfevent. select "Ne jouma entry recuuired" hic the first actount field, Do riof rourd intertiediate caloations.) a-2. What is the impact on 2020 net income? a-3. What is the impact on 2021 net income? a.4. What is the impact on net income over the bwo accounting periods? b-1. Assurning that lcebreaker designates the forward contract as a fair walue hedge of a forelgn curency reteivabie, prepare lour hal entries for the sale and foreign currency forward contract in U.S. dollars. b-2. Wiat is the impact on 2020 net income? b-3. What is the impact on 2021 net incomee? b-4. What is the impact on net income over the two accounting periods? (6) Answer is not comsiete. Cormplete this question by erterind your answers in the tabs below, b-2. What is the impact on 2020 net income? b-3. What is the impact on 2021 net inceme? b-4. What is the impact on net incoeve over the two accounting periods? (Da not round intermediate caiculaticins. Negative amounts should be entered with a minus sign.)