Blossom wrote (sold) a call option on Ewing Inc. common shares on July 7, 2020 for a premium of $490. The call option is for 240 shares (notional value), and the strike price is $80. The option expires on January 31, 2021. The following data are available with respect to the call option:

			Fair Value		Market Price
Date			of Option		of Ewing Shares
Sept. 30,	2020		$1,760		$86 per share
Dec. 31,	2020		$970		$83 per share
Jan. 4,	2021		$1,550		$85 per share

Prepare the journal entry for Blossom for July 7, 2020: Sale of the call option on Ewing shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
July 7, 2020

Prepare the journal entry for Blossom for December 31, 2020: Blossom prepares financial statements. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2020

Prepare the journal entry for Blossom for January 4, 2021: Blossom settles the call option net on the Ewing shares (that is, without selling the shares). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
January 4, 2021