Helvetia Corp. ,a Swiss firm,bought merchandise from Bouchard Company of Quebec on December 15,20X7 for 20,000 CHF,payable on January 14,20X8.Bouchard and Helvetia both close their books on December 31.The 20,000 CHF was paid on January 14,20X8.The exchange rates for CHF1 were: 
Required:
Provide the journal entries for Bouchard (the seller)at each of the above dates,as required.The account was hedged by Bouchard through a 30 day forward contract.Bouchard uses the gross method to record hedge transactions.Bouchard reports under IFRS.
Definitions:
Midpoint Evaluations
Periodic assessments conducted halfway through a project, program, or academic term to review progress and adjust goals or methodologies as necessary.
End Evaluations
The assessments conducted at the conclusion of a project or term to review performance and outcomes.
Processing Method
A technique or procedure used to handle or manage information, materials, or products.
Reflect
The act of thinking deeply or carefully about something, often leading to insights or learning.
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