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Business, 20.12.2019 06:31 Lowkeycaleb

During year 4, r corp., a manufacturer of chocolate candies, contracted to purchase 100,000 pounds of cocoa beans at $1.00 per pound, with delivery to be made in the spring of year 5. because a record harvest is predicted for year 5, the price per pound for cocoa beans had fallen to $.80 by december 31, year 4. of the following journal entries, the one that would properly reflect in year 4 the effect of the commitment of r corp. to purchase the 100,000 pounds of cocoa is:

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During year 4, r corp., a manufacturer of chocolate candies, contracted to purchase 100,000 pounds o...
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