On Monday morning June T-bond futures contracts are quoted as follows:

30 Year U.S. Treasury Bond Futures - $100,000; pts. 32nds of 100%

For June

Open 98-00

High 99-02

Low 97-01

Settle 97-27

Change -2

Open Interest 35,147

The initial margin requirement is $2,500 and the maintenance margin requirement is $2,000 per contract. John speculates by buying 10 futures contracts at the quoted settle price.

Closing prices at the end of the day on Monday, Tuesday, and Wednesdays are as follows:

Day Settle

Monday 97-01

Tuesday 98-00

Wednesday 98-02

A. Show the Transactions in John's margin account each day.

Margin a/c

Initial Margin = $________

Market to Market = $________

Balance Monday = $________

Margin call = $_________

Balance Monday = $__________

Market to Market = $_________

Balance Tuesday = $________

Margin Call = $________

Balance Tuesday = $_______

Mark to market = $________

Balance Wednesday = $_______