The price of gold is currently $1,200 per ounce. forward contracts are available to buy or sell gold at $1,400 per ounce for delivery in one year. an arbitrageur can borrow 1 money at 5% per annum. what should the arbitrageur do? assume that the cost of storing gold is zero and that gold provides no income.

Clooney corp. establishes a petty cash fund for $225 and issues a credit card to its office manager. by the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $59; delivery, $84; supplies expense, $49).record all employee expenditures, and record the entry to replenish the petty cash fund. the credit card balance will be paid later. (if no entry is required for a transaction/event, select "no journal entry required" in the first account record expenditures from credit card and the petty cash fund.