Question: Refer to Practice 19-3. Make any necessary journal entry on the golf course developers books on December 31 of Year 1 in connection with the

Refer to Practice 19-3. Make any necessary journal entry on the golf course developer’s books on December 31 of Year 1 in connection with the tree forward contract, assuming that the price per tree on that date is

(1) $250,

(2) $600, and

(3) $400.


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