On 11/1/Yr1, ABC Inc. sold merchandise to a customer in a foreign country for 125,000 FCUs. Payment was to be received on 02/1/Yr2. ABC entered into a forward contract on 11/1/Yr1 to sell 125,000 FCUs on 02/1/Yr2. ABC designated the hedge as a cash flow hedge. ABC must close its books on December 31. Relevant exchange rates are as follows: Date Spot Rate Forward Rate to 2/1/72 11/1/Yr1 $2.50 $2.62 12/31/Yr1 $2.45 $2.55 02/01/Yr02 $2.60 NA Prepare the journal entry(ies) needed on 2/1/Yt2