On 1 August 2019, Calanthe Ltd entered into a purchase commitment with a UK supplier to buy 100 000 worth of raw materials and the full amount is due on 1 November 2019. On 30 September 2019, the control of the goods will be transferred to Calanthe Ltd upon shipping. Concerned about adverse exchange rate fluctuations, on 1 August 2019 Calanthe Ltd also entered into a forward rate agreement with the Happy Bank for delivery of 100 000 on 1 November 2019. The following exchange rate information is available: Spot rate: Forward rate for delivery of 100 000 on 1 November: A$1.00 = 0.80 A$1.00 = 0.75 1 August 2019 30 September 2019 1 November 2019 A$1.00 = 0.81 A$1.00 = 0.83 A$1.00 = 0.80 A$1.00 = 0.83 Calanthe Ltd has designated the hedging arrangement as a cash flow hedge, which qualifies for hedge accounting in accordance with AASB 9'Financial Instruments'. It is 100% effective. The end of the reporting period for Calanthe Ltd is 30 September. REQUIRED: Prepare the general journal entries to record these transactions at various dates in Calanthe Ltd's books. Show all calculations on measuring fair values and changes in fair values of the hedging instrument and the hedged item at various dates. Provide any necessary explanation to support your answer. Round answers to the nearest Australian dollar. 1 August 2019 30 September 2019 1 November 2019