On June 1, Year 3, Forever Young Corp. (FYC) ordered merchandise from a supplier in Turkey for Turkish lira (TL) 217,0 were delivered on September 30, with terms requiring cash on delivery. On June 2, Year 3, FYC entered a forward cor flow hedge to purchase TL 217,000 on September 30 , Year 3, at a rate of $0.90. FYC's year-end is June 30. On September 30, Year 3, FYC paid the foreign supplier in full and settled the forward contract. Exchange rates were as follows: ror contracts expiring on September 30 , Year 3. Required: (c) Prepare all necessary journal entries to record the transactions described above, assuming that the forward contract designated as a fair value hedge. (If no entry is required for a transaction/event, select "No journal entry required" in account field.) Journal entry worksheet 45 Revalue forward contract at fair value. Note: Enter debits before credits. Journal entry worksheet 234 Journal entry worksheet Transfer commitment liability to inventory. Note: Enter debits before credits