Canseco Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed

a long$-$term noncancelable purchase commitment with its largest supplier of this raw material on November $30,2025,$ at an agreed

price of $$100,000.$ At December $31,2025,$ the raw material had declined in price to $$85,000.$

What entry would you make on December $31,2025,$ to recognize these facts?