10 points QUESTION 14 Tryce Ltd is an Australian coopy On 1 J 2021, Joyce 1.td entered into a purchase contract with a supplier, to purchase an inventory of cardboard boxes for US$100,000. The purchase is on credit which is payable 1 Sept 2021 The CFO was concerned about the impact of the adverse exchange rate movements. Joyce Ltd entered into a forward rate agreement with the Commonwealth Bank on 1 June 2021 to purchase US$10,000 n 1 Sepe 2021 Joyce Lad's reporting date is 30 June. The following exchange rates are applicable Spotte Forward rate for delivery of US$100,000 on 1 Sept 2931 Le ASI 00-LINS0.81 A$1.00-US$0.78 ASI 00-US$0.82 30 June AS100-US50.14 ||1 Sept A$1.00-1355085 A$1.00-US$0.85 Joysa Lad has designed the hedging arrangement as a fair valse hedge, which qualifies for hedge accounting in accordance with AASB 9 Financial Instruments. The hedge is highly effective. REQUIRED: Prepare the general journal tries to record these traction at vations dates in Joyce Lad's books in accordance with the requirements of AASB 9 Financial Instruments. Show all calculations en measuring fair values and changes in fair values of the hedging instrument and the hedged item at various dates. No narration is required. Round answers to the nearest Australian 10 points QUESTION 14 Tryce Ltd is an Australian coopy On 1 J 2021, Joyce 1.td entered into a purchase contract with a supplier, to purchase an inventory of cardboard boxes for US$100,000. The purchase is on credit which is payable 1 Sept 2021 The CFO was concerned about the impact of the adverse exchange rate movements. Joyce Ltd entered into a forward rate agreement with the Commonwealth Bank on 1 June 2021 to purchase US$10,000 n 1 Sepe 2021 Joyce Lad's reporting date is 30 June. The following exchange rates are applicable Spotte Forward rate for delivery of US$100,000 on 1 Sept 2931 Le ASI 00-LINS0.81 A$1.00-US$0.78 ASI 00-US$0.82 30 June AS100-US50.14 ||1 Sept A$1.00-1355085 A$1.00-US$0.85 Joysa Lad has designed the hedging arrangement as a fair valse hedge, which qualifies for hedge accounting in accordance with AASB 9 Financial Instruments. The hedge is highly effective. REQUIRED: Prepare the general journal tries to record these traction at vations dates in Joyce Lad's books in accordance with the requirements of AASB 9 Financial Instruments. Show all calculations en measuring fair values and changes in fair values of the hedging instrument and the hedged item at various dates. No narration is required. Round answers to the nearest Australian