Triple A Company, a U.S.-based company, purchased equipment from Germany for 15,000 Euro on December 16, 2022. The sales term was FOB destination (i.e., ownership is transferred to Triple A Company upon arriving at the destination). The equipment was shipped on December 16, 2022 and arrived at the destination on February 14, 2023. The payment was due on February 14, 2023. Triple A was concerned Euro would appreciate between December 16, 2022 and February 14, 2023. Therefore, on December 16, 2022, Triple A also acquired a 60-day forward contract to purchase Euro at a forward rate of Euro 1 = $1.19. On December 16, 2022, the forward rate for an exchange on February 14, 2023, is Euro 1 = $1.19. On December 31, 2022, the forward rate for an exchange on February 14, 2023, is Euro 1 = $1.21. The spot rate on February 14, 2023 was Euro 1=$1.24. Prepare the appropriate entry on December 31, 2022 and February 14, 2023.