On December 1, 20X8, Secure Company bought a 90-day forward contract to purchase 200,000 euros (€) at a forward rate of €1 = $1.35 when the spot rate was $1.33. Other exchange rates were as follows: 
Required:
1) Prepare all journal entries related to Secure Company's foreign currency speculation from December 1, 20X8, through March 1, 20X9, assuming the fiscal year ends on December 31, 20X8.
2) Did the company gain or lose on its purchase of the forward contract?
Definitions:
Gastrocnemius
A large muscle located on the back portion of the lower leg, forming part of the calf, that aids in walking, running, and jumping.
Biceps Femoris
A muscle of the thigh that is part of the hamstrings, involved in knee flexion and thigh extension.
Tibialis Anterior
A muscle located in the front part of the lower leg, responsible for dorsiflexion and inversion of the foot.
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