On October $1,$ Year $3,$ Cantaloupe Company from Ontario, Canada contracted to sell inventory to a customer in Sydney, Australia at a selling price of Australian Dollar $($AUD$)$ $$500,000.$ The contract called for the inventory to be delivered to the customer on February $1,$ Year $4,$ with payment due on delivery. On October $1,$ Year $3,$ Cantaloupe Company arranged a forward contract to deliver AUD $$500,000$ on February $1,$ Year $4,$ at a rate of AUD $$1=$ CAD $$0\mathrm{.}9805.$ Cantaloupe$$s year$-$end is December $31.$ The inventory was delivered on February $1,$ Year $4,$ and AUD $$500,000$ were received and delivered to the bank. Exchange rates were as follows:

Spot Rates

Forward Rates$*$

October $1,$ Year $3$

AUD $$1=$ CAD $$0\mathrm{.}9696$

AUD $$1=$ CAD $$0\mathrm{.}9805$

December $31,$ Year $3$

AUD $$1=$ CAD $$0\mathrm{.}9777$

AUD $$1=$ CAD $$0\mathrm{.}9985$

February $1,$ Year $4$

AUD $$1=$ CAD $$0\mathrm{.}9950$

AUD $$1=$ CAD $$0\mathrm{.}9950$

$*$ For contracts expiring on February $1,$ Year $4$

The forward contact is designated as a cash flow hedge.

Which journal entry would be recorded on December $31,$ Year $3?$