can you answer this question for me please ?

View Policies Current Attempt in Progress Monty Jewelry Co. uses gold in the production of its products. Monty anticipates that it will need to purchase 95 ounces of gold in November 2020, for jewelry that will be shipped prior to Valentines Day. However, if the price of gold increases, this will increase the cost to produce the jewelry, which will result in lower profit margins. To hedge the risk of increased gold prices, on June 1, 2020, Monty enters into a gold futures contract and designates this futures contract as a cash flow hedge of the anticipated gold purchase. The notional amount of the contract is 95 ounces, and the terms of the contract give Monty the option to purchase gold at a price of $650 per ounce. The price will be good until the contract expires on November 30, 2020. Assume the following data with respect to the price of the call options and the gold inventory purchase. June 1, 2020 June 30, 2020 Date September 30, 2020 (c) (d) (e) Spot Price for November Delivery $650 per ounce Present the journal entries for the following dates/transactions. (f) 700 per ounce (a) June 1, 2020-Inception of futures contract, no premium paid. (b) June 30, 2020-Monty prepares financial statements. 765 per ounce September 30, 2020-Monty prepares financial statements. November 1, 2020-Monty purchases 95 ounces of gold at $765 per ounce and settles the futures contract. December 15, 2020-Monty sells jewelry containing the gold purchased in November 2020 for $699,000. The cost of the finished goods inventory is $355,000. Indicate the amount(s) reported in the income statement related to the futures contract and the inventory transactions on December 31, 2020. Date Account Titles and Explanation (To record purchase.) (To record settlement of futures contract.) (To record sales.) (To record cost of goods sold.) Debit Credit 00 00 00 00 MONTY JEWELRY CO. Partial Income Statement Sales revenue (To record change in earnings.) Cost of goods sold Gross profit $