On January 1, 2017, Carla Vista Inc. agrees to buy 3 kilos of gold at $32,000 per kilo from Golden Corp on April 1, 2017, but does not intend to take delivery of the gold. On the day that the contract was entered into, the fair value of this forward contract was zero. The fair value of the forward subsequently fluctuated as follows:

Date		Fair Value of Forward Contract
January 20, 2017		$478
February 6, 2017		$124
February 28, 2017		$352
March 14, 2017		$700

On the settlement date, the spot price of gold is $33,000 per kilo. Assume that Carla Vista complies with IFRS.

A) Prepare the journal entry for the day the forward contract was signed.

B) Prepare the journal entries to recognize the changes in the fair value of the forward contract.

C) Prepare the journal entry that would be required if Carla Vista settled the contract on a net basis on April 1, 2017