On November $1,2008,$ Turkey Corporation of the United States buys inventory from Gobble Ltd$.$Of Canada for $90,000$ Canadian dollars to be paid on January $31,2009.$ Also on November $1,2008,$ Turkey paid $$\mathrm{.}054$ per Canadian dollar for an option with a strike price of $$0\mathrm{.}82.$ The following spot rates and option premiums apply:

Spot Option Prem.

November $1,2008$ $$\mathrm{.}82$ $$\mathrm{.}054$

December $31,2008$ $$\mathrm{.}88$ $$\mathrm{.}097$

January $31,2009$ $$\mathrm{.}93$ N$/$A

Turkey chooses to designate the option as a cash flow hedge of the foreign currency denominated sale. Record all journal entries associated with these transactions and be sure to date the entries.