Calculate the net cash settlement at June 30, 2024. Prepare the journal entries for the period January 1 to June 30, 2024, to record the forecasted purchase transaction, necessary adjustment for changes in the fair value of the futures contract, and settlement of the contract. Assume that Snackums purchases the wheat inventory from Trigo Farms on June 30, 2024, as anticipated. During the third quarter, Snackums uses all of the wheat it purchases in production and sells the related inventory. What entry would Snackums make during the quarter ended September 30, 2024, related to the hedged transaction