A company enters into a long futures contract to buy 1,809 units of a commodity for $67 per unit. The initial margin is $6000 and the maintenance margin is $4000. What futures price will allow $2000 to be withdrawn from the margin account?

Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is: