/ My courses / INTERNATIONAL UNTING Section Lecture (ZUZULU Time left 0:33:29 3 On January 1, 2021, a U.S.form sold equipment to a foreign firm for 50,000 FC, to be received on March 1 in FC. The spot rate was 1 FC = $150 on January 1 and 1 FC =$165 on March 1. To protect themselves from exchange rate changes, the US. firm entered into a forward exchange contract on January 1 to sell FC on March 1 for $1.52. The adjusting entry on 1.3.2021 indudes: estion O a Debit to forward contract $6,500 O b. Credit to forward contract $6,500 O c Debit to accounts recewable 56,500 O d. Credit to accounts receivable $6,500, Next page spage ORI B E LG FSO F11 2 0 7 Y 84 99 Y U o* PS