On January 1, 2020, Sunland Inc. entered into a futures contract to purchase U.S. $5,490 for $5,680 Canadian in 30 days on the Futures Exchange. On January 15, the fair value of the contract was $38 (reflecting the present value of the future cash flows under the contract). Sunland Inc. was required to deposit $22 with the stockbroker as a margin. Prepare the journal entries to update the books on January 1 and 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date January 1, 2020 January 15, 2020 Account Titles and Explanation Debit Credit