On November 10, 2009, King Co. sold inventory to a customer in a foreign country. King agreed to accept local currency units (LCU) in full payment
for this inventory. Payment was to be made on Feb 1, 2010. On December 1, 2009, King entered into a forward contract wherein the total payment
to be received would be delivered to a currency broker in two months. Additional information is as follows:
	Total payment in local currency units (LCU) for the inventory:			200,000
	Date	Rate Description	Exchange Rate per LCU
	Nov. 10, 2009	Spot Rate	$0.26
	Dec. 1, 2009	Spot Rate	$0.24
		2-Month Forward Rate	$0.22
	Dec. 31, 2009	Spot Rate	$0.20
		1-Month Forward Rate	$0.18
	Feb. 1, 2010	Spot Rate	$0.16
The present value factor for one month based on the company's borrowing rate is				0.9901
Assume this hedge is designated as a cash flow hedge, what items relating to this transaction should the company report on its 2009 and 2010
financial statements?

Please prepare journal entries and show what items (account name and dollar amounts) related to the export sale and forward contract the company will report on its 2009 financial statements.