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Hi
i am stuck at the adjustment for:
(F)Walker entered into a futures contract during the year to hedge a forecast sale in the year ended 31 oct 20×9. the futures contract was designated and documented as a cash flow hedge. at 31 oct 20×8, had the forecast sale occurred, Walke would have suffered a loss of $1.9m and the futures contract was standing at a gain of $2m. No accounting entries have been made to record the futures contract. ( Year end 31 Oct 20×8 ).
please could you help?
many thanks
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