View Policies Current Attempt in Progress On January 1, 2020, Sunland Inc. entered into a futures contract to purchase U.S. $5,400 for $5.810 Canadian in 30 days on the Futures Exchange. On January 15, the fair value of the contract was $39 (reflecting the present value of the future cash flows under the contract). Sunland Inc. was required to deposit $23 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 Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit