A US Company Receives a Sales Order on December 10 from from a Swiss

A U.S. company receives a sales order on December 10 from a Swiss company, for the sale of merchandise priced at CHF100,000, payment to be received on February 10. To hedge the foreign exchange risk, on December 10 the U.S. company enters a forward sale contract for CHF100,000 with a February 10 delivery date. On January 10, the company delivers the merchandise to the customer. On February 10, the company receives payment and sells the CHF100,000 using the forward sale contract. The company's accounting year ends December 31. Relevant rates ($/CHF) are as follows:
$$\begin{array} { | l | c | c | } \hline & \text { Spot Rate } & \begin{array} { c } \text { Forward Rate for } \\\text { February 10 Delivery }\end{array} \\\hline \text { December 10 } & \$ 1.065 & \$ 1.067 \\\hline \text { December 31 } & 1.066 & 1.068 \\\hline \text { January 10 } & 1.062 & 1.063 \\\hline \text { February 10 } & 1.058 & 1.058 \\\hline\end{array}$$ Required
Make the journal entries to record the above events, including appropriate year-end adjusting entries.