On November , 2017, Zamfir Company, a U.S. corporation, purchased minerals from a Russian company for 2.000,000 rubles, payable in 3 months. Relevant exchange rates between U.S& Russian currencies are given: Spot Rate Forward Rate (to February 1, 2018) November 1, 2017 December 31, 2017 April 1, 2018 S0.348 S0348 S0.352 S0.359 S0.344 company's incremental borrowing rate provides a discount rate of 0.975 for three months. Required: Prepare journal entries for Dell in connection with the purchase and payment: November 1.2017: Record jounal entry to show purchase of inventory Dcbit Credit December 31 2017: Assuming Zamfir does not attempt to hedge this transaction, what is the journal entry to record the gain or loss that would be shown on the company's December 31, 2017 financial statements? Debit Credit December 31.2017: Assume instead that on November 1, 2017, Zamfir Company entered into a forward contract to buy 2,000,000 rubles contract on December 31,20172 on February 1,2018. What is the joumal entry to record the fair value of the forward Debit Credit