Blue & Green, Inc ?
Required:
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Prepare the Journal Entries for December 1

Blue & Green, Inc.sold merchandise for 100,000 FC to a foreign vendor on December 1, 2020.Payment in FC is due January 31, 2021.On December 1, 2020, Blue & Green signed an agreement with a foreign exchange broker to sell 100,000 FC on January 30, 2021.Exchange rates to sell 1 FC are as follows:
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Fiscal Year End is 12/31; Discount rate = 12%
$$\begin{array} { l c c } \text { Date } & \text { Spot Rate } & \text { Fwd. Rate } \\\hline 12 / 1 / 20 & \$ 1.45 & \$ 1.40 \\12 / 31 / 20 & \$ 1.43 & \$ 1.35 \\1 / 31 / 21 & \$ 1.41 & \$ 1.41\end{array}$$ ?
Required:
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Prepare the journal entries for December 1 through January 31 related to the events described above.Ignore Cost of Goods Sold.