Assuming that the market price as of December 31, 2020, is $3.62, record the journal entry. (Credit account titles are automatically indented ivhen amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Round answers to O decimal places, eg 6,225) Date Account Titles and Explanation Debit Credit Dec. 31 eTextbook and Media List of Accounts 5 Attempts:0 of 5 used Submit Answer Give the entry in January 2021. when the 39,500-gallon shipment is received, assuming that the situation given in (b2) above existed at December 31, 2020, and that the market price in January 2021 was $3.62 per gallon. Prepare the journal entry for when the materials are received in January 2021. (Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Round answers to O decimal places, eg. 6,225.) Date Account Titles and Explanation Debit Credit Jan. 2021 At December 31, 2020, Stellar Company has outstanding noncancelable purchase commitments for 39,500 gallons, at $4.02 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material inventory at cost or market, whichever is lower