Flint Jewelry Co. uses gold in the manufacture of its products. Flint anticipates that it will need to purchase 500 ounces of gold in October 2020, for jewelry that will be shipped for the holiday shopping season. However, if the price of gold increases, Flint's cost to produce its jewelry will increase, which would reduce its profit margins. To hedge the risk of increased gold prices, on April 1, 2020, Flint enters into a gold futures contract and designates this futures contract as a cash flow hedge of the anticipated gold purchase. The notional amount of the contract is 500 ounces, and the terms of the contract give Flint the right and the obligation to purchase gold at a price of $270 per ounce. The price will be good until the contract expires on October 31, 2020. Assume the following data with respect to the price of the futures contract and the gold inventory purchase: Prepare the journal entries for the following transactions. (a) April 1,2020-Inception of the futures contract, no premium paid. (b) June 30,2020-Flint Co. prepares financial statements. (c) September 30,2020 -Flint Co. prepares financial statements. (d) October 10,2020-Flint Co. purchases 500 ounces of gold at $283 per ounce and settles the futures contract. (e) December 20,2020 - Flint sells jewelry containing gold purchased in October 2020 for $383,600. The cost of the finished goods inventory is $199,200. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)