on November 1 2017, bernard company (a u.s-based company) sold merchandise to a foreign customer for 340,000 FCU with payment to be received on April 30 2018. at the date of sale, bernard entered into a six-month forward contract to sell 340,000 focus. the company properly designates the forward contract to sell 340,000 focus. the company properly designates the forward contract as a cash flow hedge of a foreign currency receivable. the following exchange rate applies: