$($a$)$

Present the journal entries for the following dates$/$transactions$.$

$($a$)$ June $1,2025-$Inception of futures contract, no premium paid.

$($b$)$ June $30,2025-$Sunland prepares financial statements.

$($c$)$ September $30,2025-$Sunland prepares financial statements.

$($d$)$ November $1,2025-$Sunland purchases $105$ ounces of gold at $$850$ per ounce and settles the futures contract.

$($e$)$ December $15,2025-$Sunland sells jewelry containing the gold purchased in November $2025$ for $$732,000.$ The cost of

the finished goods inventory is $$343,000.$