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Use of futures contracts to hedge a forecasted transaction - cash flow hedge Following are futures and spot prices for the relevant dates: Required Prepare

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Use of futures contracts to hedge a forecasted transaction-cash flow hedge
Following are futures and spot prices for the relevant dates:
Required
Prepare the journal entries to record the following:
a. Purchase of copper futures contract in January
b. Adjusting entry at March 31
c. Purchase of copper on May 31
d. Sale of copper on June 1
Note: If no entry is required, select "No entry required" for both the debit and credit account titles.
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