On December 1, 2013, Dorn Corporation agreed to purchase a machine to be manufactured by a company in Brazil The purchase price is 1150,000 Brazilian reals To hedge against fluctuations in the exchange rate, Domn entered into a forward contract on December to buy 1150,000 reals on April 1, the agreed date of machine delivery, for $0.375 per real. The following exchange rates were quoted Forward Rate Date Spot Rate (Delivery on 4/1) December 1 0.390 0375 December 31 0 370 0.373 April 1 0.385 Required Prepare journal entries necessary for Doindring 2013