Wellington entered into a forward contract on 1 March 20X8 to purchase 3 million dinars for $1m on 1 February 20X9. The contract was arranged at nil cost. Wellington has a reporting date of 31 December 20X8 when the exchange rate is $1: 2.4 dinars. Which journal records the derivative of $250,000 at 31 December 20X8? Solution A.Dr Derivative asset, Cr Profit or loss B.Dr Derivative asset, Cr Other comprehensive income C.Dr Profit or loss, Cr Derivative liability D.Dr Other comprehensive income, Cr Derivative liability