On November 1, 2021, Container Corporation sold inventory to a firm in Japan.
Container Corporation will be paid in Japanese YEN. Container will be paid 12 million YEN
on January 31, 2022.
Japanese YEN	12,000,000
	Spot Rate	Forward Rate to Jan 31	Put Option Premium	Option Strike Price	USD at the Spot Rate
Nov 1, 2021	0.00797	0.00784	0.00045		95,640
Dec 31, 2021	0.00785	0.00779	0.0004		94,200
Jan 31, 2022	0.00775			0.00797	93,000
Spot vs Forward at November 1st			1,560
Expense over months		3	520
Option Information:
Date	Spot Rate	Option Premium	Fair Value	Change in FV	Intrinsic Value	Time Value	Change in Time Value
Nov 1, 2021	0.00797	0.00045	5,400		-	5,400	0
Dec 31, 2021	0.00785	0.0004	4,800	(600)	1,440	3,360	(2,040)
Jan 31, 2022	0.00775	0	2,640	(2,160)	2,640	-	(3,360)
REQUIRED:
1) Prepare all journal entries needed for a Foreign Currency Hedge of a Denominated Asset
	with a Forward Contract, using Cash Flow Hedge accounting.
2) Prepare all journal entries needed for a Foreign Currency Hedge of a Denominated Asset
	with a Forward Contract, using Fair Value Hedge accounting.