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What journal entry should callahan make prior to

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Question: Callahan, Inc., sells a forward on ounces of gold to remove uncertainty regarding the revenue it will recognize when it sells its gold inventory. The forward represents a perfect cash flow hedge. When Callahan settles the forward, it pay $100,000 to the counterparty. What journal entry should Callahan make prior to and at the settlement date?

Reference no: EM132761352

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