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  3. on january 1,2023, jaeger inc. entered into a futu

On January 1,2023, Jaeger Inc. entered into a futures contract that trades on...

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Accounting

On January 1,2023, Jaeger Inc. entered into a futures contract
that trades on the Futures Exchange to purchase U.S. dollars for
Canadian dollars in 30 days. On January 15, the fair value of the
contract reflected the present value of the future cash flows
under the contract. Ginseng Inc. was required to deposit a
margin with the stockbroker. The company would like to update
its records on January 15.
Contracted purchase price - Canadian
$,6,336
Contracted purchase price - U.S.
Fair value of contract, January 15
Margin deposit
image

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