On August 1, LEADS. Carleton Lid. Ordered machinery from a supplier in Hong LOVE for HESTON,OOO. The machinery was delivered on October 1 , Fear ? with terms requiring payment In full by December 3 1 . Fear ?. On August ], Fear?, Carleton entered a forward contract to purchase HE'SSOO, Odd on December 3 1, Fear ?. at a rate of 50. 165. On December 3 1. Fear ?, Carleton settled the forward contract and paid the supplier* FREE 671 Exchange rates were as follows : Spot Rates Forward Rates* August 1 and 2. Fear SHE}1 = COOLGOHK$ 1 = CON. 105 October 1. Fear ?` HESI = COOLGAHKSI = CIO_ IES December 31. Fear ; HK$1 = COOLCOHESI = 250. 105 Required ( a) Assume that the forward contract was designated as a cash flow hedge of the firm commitment to purchase the machinery and that the balance in accumulated other comprehensive Income on October I was transferred to the machinery" account when the machiner , was delivered . Prepare* the journal entries for fear ? to record all the activity, described above and prepare a summar * Journal entry for the combined Effect of all Entries