The contract called for the merchandise to be delivered to the customer on January $31,$ Year $7,$ with payment due on delivery. On October $1,$ Year $6,$ Versatile arranged a forward contract to deliver CHF$430,000$ on January $31,$ Year $7,$ at a rate of CHF$1=$ $$2\mathrm{.}29.$ Versatiles year$-$end is December $31.$ The merchandise was delivered on January $31,$ Year $7,$ and CHF$430,000$ was received and delivered to the bank. Exchange rates were as follows: Spot RatesForward Rates$**$October $1,$ Year $6$CHF$1=$ $$2\mathrm{.}27$CHF$1=$ $$2\mathrm{.}29$December $31,$ Year $6$CHF$1=$ $$2\mathrm{.}30$CHF$1=$ $$2\mathrm{.}31$January $31,$ Year $7$CHF$1=$ $$2\mathrm{.}28$CHF$1=$ $$2\mathrm{.}28**$For contracts expiring on January $31,$ Year $7.$ Required:$($a$)$ Prepare the journal entries $($using net method$)$ that Versatile should make to record the events described assuming that the forward contract is designated as a cash flow hedge. $($In cases where no entry is required, please select the option $"$No journal entry required" for your answer to grade correctly. Leave no cells blank $-$ be certain to enter $"0"$ wherever required.$)($b$)$ Prepare a partial trial balance of the accounts used as at December $31,$ Year $6.($Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Omit $ sign in your response.$)($c$)$ Prepare the journal entries $($using net method$)$ that Versatile should make to record the events described, assuming that the forward contract is designated as a fair value hedge. $($In cases where no entry is required, please select the option $"$No journal entry required" for your answer to grade correctly. Leave no cells blank $-$ be certain to enter $"0"$ wherever required.$)($d$)$ Prepare a partial trial balance of the accounts used as at December $31,$ Year $6.($Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Omit $ sign in your response.$)$