On January 1st, 20x12, ABC Inc.agrees to a futures contract to buy 1,000 shares of DEF Inc.for $20 per share in 60 days.The current value of the shares on January 1, 20x12 is $22 per share.
The broker requires a 20% margin payment.The fair value of the shares is $24 per share on January 31st, 20x12 and $18 per share on February 29th, 20x12.
Required: Prepare all relevant journal entries.
Definitions:
Black Men
A demographic descriptor referring to male individuals of African descent or having dark skin pigmentation.
Superfluous
Exceeding what is sufficient or required; excess or unnecessary.
Doctors' Incomes
Doctors' Incomes pertain to the earnings received by medical professionals, which can vary greatly based on factors like specialty, location, and experience.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.
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