Pacifico Company, a U.S.-based importer of beer and wine, purchased 2,000 cases of Oktoberfest-style beer from a German supplier for 620,000 euros. Relevant U.S. dollar exchange rates for the euro are as follows: The company closes its books and prepares third-quarter financial statements on September 30. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Adjust the forward contract to fair value. Note: Enter debits before credits. Journal entry worksheet 166 13 Record payment made to German supplier on October 15 when the spot rate is $1.63 per Euro. Note: Enter debits before credits. Journal entry worksheet 12 5 13 Record the entry for gain or loss on the forward contract on the payment date when the spot exchange rate is $1.63 per Euro. Note: Enter debits before credits. Journal entry worksheet