On 1 June 2021, ABC Ltd entered into a non-cancellable purchase commitment with a supplier, to purchase an inventory of cardboard boxes for US$100,000 on 1 August. The purchase is on credit which is payable on 1 Sept 2021. The CFO was concerned about the impact of the adverse exchange rate movements. ABC Ltd entered into a forward rate agreement with the Commonwealth Bank on 1 June 2021 to purchase US$100,000 on 1 Sept 2021. ABC Ltd's reporting date is 30 June. The following exchange rates are applicable: 2021 Spot rate Forward rate for delivery of $100,000 on 1 Sept 1 June A$1.00=US$0.82 A$1.00=US$0.78 30 June A$1.00=US$0.80 A$1.00=US$0.75 1 August A$1.00=US$0.83 A$1.00=US$0.79 1 Sept A$1.00=US$0.86 A$1.00=US$0.86 ABC Company has designed the hedging arrangement as a cash flow hedge, which qualifies for hedge accounting in accordance with AASB 9 'Financial Instruments'. The hedge is highly effective. REQUIRED: Prepare the general journal entries to record these transactions at various dates in ABC Ltd's books in accordance with the requirements of AASB 9 'Financial Instruments'. Show all calculations on 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 dollar.