On 1 June 2022 Andrew Ltd enters into a firm commitment with Eastcost Co. to buy US$1 000 000 of inventory. The inventory will be transferred to Andrew Ltd (making Andrew Ltd therefore liable for the debt) on 1 August 2022, and payment will be made on that date. The financial year end of Andrew Ltd is 30 June. We will assume that the hedging arrangements used by Andrew Ltd qualify for hedge accounting pursuant to AASB 9 and that Andrew Ltd has designated the hedging arrangement as a fair value hedge. The relevant spot rates and forward rates are as follows:

Date	Spot rate	Forward rate
1 June 2022	US$1.00 = A$1.35	US$1.00 = A$1.40
30 June 2022	US$1.00 = A$1.27	US$1.00 = A$1.42
1 August 2022	US$1.00 = A$1.43	US$1.00 = A$1.43

Required: Provide the journal entries to account for the hedged item and hedging instrument as required on 1 June 2022, 30 June 2022 and 1 August 2022.