Carla Vista Jewelry Co, uses gold in the production of its products. Carla Vista anticipates that it will need to purchase 105 ounces of gold in November 2025, for jewelry that will be shipped prior to Mtlentines 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, 2025, Carla Vista enters into a gold futures contract and designates this futures contract as cash flow hedge of the anticipated gold purchase. The notional amount of the contract is 105 ounces, and the terms of the contract give Caria Vista the option to purchase gold at a price of $730 per ounce. The price will be good until the contract expires on November 30.2025. Assume the following data with respect to the price of the call options and the gold inventory purchase: Present the joumal entries for the following datestransactions. (a) June 1,2025-inception of futures contract, no oremium paid. (b) June 30,2025-Carla Vistaprepares financial statements. (c) September 30,2025-Carla Vista prepares financial statements. (d) November 1,2025-Carla Vista purchases 105 ounces of gold at $860 per ounce and settles the futures contract. (e) December 15,2025-Carla Vista sells jewelry containing the gold purchased in November 2025 for $702,000. The cost of the finished goods irventory is $338,000. (Cred't occount tilles are autamotically indented when the amount is entered. Do not indent manually. If no entry is required, seiect 'No Entry' for the occount Utes and enter O for the amounts. List all debit entries before credit entries) Ucrealuna Holding Gain of Lon Equity 102025 Imventory Ciwi 1.2025 imentory can (To record purchase) 1.2025 Cant Futures Cantract (To record settiement of futures contract.) 15.2025 can Salev Hevenat (To record sylins) 15,2025 Cast er Cobes fola Saln Rerinue (To record cost of goods sold.) Futures Contract (To record settlement of futures contract.) 15.2025 Cash Sales Revenue (To record sales.) 15,2025 15,2025 Cost of Goods Sold Sales Revenive (To record cost of goods sold.) 15,2025 Futures Contract Accumulated Other Comprehensive income (To record change in earnings.) eTextbook and Media