Required information On March 1, 2022, a company purchased a futures contract for 5,000 barrels of oil at $31 per barrel to hedge the cost of a future purchase. The contract specified delivery on April 30, 2022. Spot prices for crude oil during the contract period are provided below. Price of crude oil (per barrel) March 1 $31 March 31 April 27 $48 $44 On April 27, the company purchased the needed 5,000 barrels of oil at the market price of $44. The company also settled the futures contract on this date (assume cash settlement). Use the information above to answer the questions below. Suppose that the finished products are sold on July 15. On this date, which of the following will the company record in relation to the futures contract? (Click to select) credit to Cost of Goods Sold for $65,000 debit to Cost of Goods Sold for $65,000 credit to Interest Expense for $65,000 debit to Interest Expense for $65,000