There are a total of 8 answers, 2 of which are journal entries. Struggling with this.... Please Help!!!

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Brandin Company of Anaheim, California, sells parts to a foreign austomer on December 1, 2015, with payment of 25,000 korunas to be received on March 1, 2016. Brandin enters into a forward contract on December 1, 2015, to sell 25,000 korunas on March 1, 2016. Relevant exchange rates for the koruna on various dates are as follows to March 1 Date December 1,2015 December 31, 2015 March 1, 2016 $ 3.60 $ 3.675 370 3.800 3.85 Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an arnual interest rate of 12 percent (1 percent per month) is 0.9803. Brandlin must cose its books and prepare financial statements at December 31. a-1. Assuming that Brandin designates the forward contract as a cash fow hedge of a foreign curmency receivable and recognizes any premium or discount using the straight-line method, prepare joumal entries for these transactions in U.S. doilars. f no entry is required for a transactionlevent, select No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to 2 decimal places) View transaction list Journal entry worksheet 12 Record the sales and foreign currency account recelvable. Note: Enter debits before credits. 12/01/2015 Record entry Clear entry View general journal -2. What is the impact on 2015 net income? (Do not round Intermediate calculations a-a. what is the impact on 2016 net noorne? (Do not round intermediate calou tons)