red On 6/1/20, an American firm purchased an inventory costing 100,000 Canadian Dollars from a Canadian firm to be paid for on 8/1/20. Also on 6/1/20, the American firm entered into a forward contract to purchase 100,000 Canadian dollars for delivery on 8/1/20. The exchange rates were as follows: ed out of ag question Spot Forward 6/1/20 6/30/20 1 CD = $0.73 1 CD = $0.75 1 CD = 80.78 1 CD = $0.74 1 CD = $0.764 1 CD - $0.78 8/1/20 The American firm's fiscal year end is 6/30:20. The changes in the value of the forward contract should be discounted at 6%. The transaction qualifies as for accounting as a cash flow hedge. What is the total amount that will be recognized in other comprehensive income in the year ended 6/30/20? Select one: $2,000 debit b. $2,320 credit $1,987 debit S388 credit