A company signs a contract for $510,000 for light bulbs to be produced later in the year. Before the light bulb production has started, the market value of the contract falls to $490,000. What journal entry should be recorded for the payment after the contract completion? (Ch9) Dr. Inventory $490,000; Dr. Loss on settlement of contract $20,000; Cr. Cash $510,000 Dr. Inventory $510,000; Cr. Cash $510,000 Dr. Inventory $490,000; Cr. Cash $490,000 Dr. Inventory $490,000; Dr. Estimated liability on purchase commitments $20,000; Cr. Cash $510,000