Kaiser Exporters buys used medical equipment and sell sit to various foreign health care institutions. One June 15, the company committed to sell medical equipment to a foreign hospital fro 800,000 FC. The equipment, with a cost of $325,000, was shipped to the customer on August 15 with terms FOB shipping point and payment due on October 15. At the time of the commitment, Kaiser acquired a forward contract to sell 800,000 FC in 120 days. Selected spot and forward rates are as follows: June 15- spot rate $.50, forward rate .510 June 30- spot rate $.485, forward rate .49 August 15- spot rate .48, forward rate .475 September 30- spot rate .47, forward rate .468 The relevant discount rate is 6% and changes in value of the firm commitment are measured as changse in the forward rate over time. Assuming that financial statements are prepared for the second and third quarters, identify all relevant income statement and balance sheet accounts for the above transactions and determine the appropriate quarterly balances