Flint Corp, a public company using IFRS, signed a long-term non-cancellable purchase commitment with a major supplier to purchase raw materials at an annual cost of $2,600,000. At December 31,2022 , the raw materials to be purchased in 2023 have a market price of $2,489,000. In 2023, Flint receives the raw materials and pays the required $2,600,000. The raw materials now have a market value of \$2,431,000. Prepare the entry to record the purchase. (Credit account tities are outomaticolly indented when the armount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Ust all debit entries before credit entries