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 What are the amounts reported for the forward contract receivable and the firm commitment liability at December 31, Year 1, and February 15, Year 2 (prior to the settlement of the contract)? 12/31/Yr 1 02/15/Yr 2A. $10,000 $40,000 B. $19,600 $30,000 C. $19,600 $10,400 D. $20,000 $30,000 |