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139. On January 1st,2012,ABC Inc. agrees to a futures contract to buy 1,000 shares of DEF Inc. for $20 per share in 60 days. The

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139. On January 1st,2012,ABC Inc. agrees to a futures contract to buy 1,000 shares of DEF Inc. for $20 per share in 60 days. The current value of the shares on January 1, 20x12 is $22 per share. The broker requires a 20% margin payment. The fair value of the shares is $24 per share on January 31st, 20x12 and $18 per share on February 29th,2012. Required: Prepare all relevant journal entries

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