n record the purchase of the Required:- Prepare necessary journal entry to record the transactions Ex 4 Bradlin Company purchased materials from a foreign supplier on December 1, 2018 with a payment of 16,000 korunas to be made on March 1, 2019. On December 1, Bradlin entered into a forward contract to buy 16,000 korunas at a forward rate of $2.775. It appropriately designates the forward contract as a fair value hedge of a foreign currency payable. The following information is available Spot rate $2.70 $2.80 $2.95 Date December 1 December 31 March 1 Forward rate to January 31 $2.775 $2.900 Required:- Prepare necessary journal entry to record the transactions