Current Attempt in Progress

On January $1,2023,$ Blossom Inc. agrees to buy $3kg$ of gold at $$32,000$ per kilogram from Golden Corp. on April $1,2023,$ but does not intend to take delivery of the gold. On the day that the contract was entered into, the fair value of this forward contract was zero. The fair value of the forward subsequently fluctuated as follows:

$($a$)$

Prepare the journal entry for the day the forward contract was signed. $($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. List debit entry before credit entry.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit$],[\backslash$table$[[$January $1],[2023]],,,]]$

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