Recognize the final gain or loss on the forward contract. A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date.I'll go through an example of how to record a forward contract on a balance sheet from both the sellers perspective in the buyers perspective. Question: Reference the forward contract Accounts Receivable problem. Most forms used in the District Court are contained in this index. Before completing the Bid Form, the undersigned represents that it has carefully reviewed the. The SFRA is a mandatory agreement that outlines financial obligations and responsibilities for attending Montco. 2 Record the forward contract. 3 Record the entry to revalue the foreign currency account receivable. Get help with your Forward contract homework.