17)On October 1, 2019, AmeriCo, a U. S. company withfiscal year-end on December 31, signed. A noncancelable order to purchase inventory on December 1, 2019 from a company in London for 30,000 British pound sterling with payment due on April 1, 2020. To hedge against the exposed risk from changes in foreign exchange rates, AmeriCo also entered into a 180-day forward contract on October 1, 2019, to purchase 30,000euros on April 1, 2020. According to the generally accepted accounting principles in the U. S. this forward contract should be account for as:

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.