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A firm enters into a futures contract to purchase 12.000 bushels of corn at an exercise price of $75.00 per bushel, The exercise price is

A firm enters into a futures contract to purchase 12.000 bushels of corn at an exercise price of $75.00 per bushel, The exercise price is equal to the market price at this date. At the end of the year, the price per bushel is $130.00. Based on this information, which one of the following statements is true? Select one a. A credit to Futures Contract is required for $360.000. A debit to Cost of Goods Sold is required for $360,000 CA debit to Unrealized Holding GainLoss is required for $660.000 d. A debit to Futures Contract is required for s660.000 e. A credit to Com Inventory is required for $350,000 A firm enters into a futures contract to purchase 12.000 bushels of corn at an exercise price of $75.00 per bushel. The exercise price is equal to the market price at this date. At the end of the year, the price per bushel is $130.00. Based on this information, which one of the following statements is true? Select one: 0000 a. A credit to Futures Contract is required for $360.000. b. A debit to Cost of Goods Sold is required for $360,000. c. A debit to Unrealized Holding Galfoss is required for $660,000. d. A debit to Futures Contract is required for $660.000. e. A credit to Corn Inventory is required for $360,000

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