Penny is studying to become a nurse. While she is taking her nursing courses, her guidance counselor also advises that she takes a course in Spanish. How might adding this extra course help Penny in her new career?
A. Penny will be smarter because she has taken more classes
B. Penny will be able to interact with English and Spanish patients.
C. Penny will not use Spanish, but it will keep her busy during college.
D. Penny will qualify for a scholarship if she speaks Spanish.

In march 2018, the phillips tool company signed two purchase commitments. the first commitment requires phillips to purchase inventory for $110,000 by june 15, 2018. the second commitment requires the company to purchase inventory for $160,000 by august 20, 2018. the company's fiscal year-end is june 30. phillips uses a periodic inventory system. the first commitment is exercised on june 15, 2018, when the market price of the inventory purchased was $90,000. the second commitment was exercised on august 20, 2018, when the market price of the inventory purchased was $125,000. required: prepare the journal entries required on june 15, june 30, and august 20, 2018, to account for the two purchase commitments. assume that the market price of the inventory related to the outstanding purchase commitment was $144,000 at june 30. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)