On December 1, Year 1, Bert, Inc. purchased parts from a supplier in a foreign country with payment of 200,000 FCUs to be made on April 1, Year 2. Bert entered into a forward contract on December 1 to purchase 200,000 FCUS on April 1, Year 2. Bert designates and properly documents the hedge as a cash-flow hedge. Bert must close its books on December 31. Relevant exchange rates are as follows: Date December 1, Year 1 December 31, Year 1 April 1, Year 2 Spot Rate $2.00 2 .10 2.25 Forward Rate to April 1, Year 2 2.08 2.20 N/A Prepare journal entries needed on December 1, Year 1, December 31, Year 1, and April 1, Year 2. Date Account Debit Credit