In 2020, Holder Manufacturing Signed a contract with as & Supplier to purchase go materials in 2021 for $100,000. Before the December 31,2020 balance sheet date, the these materals dropped to $80,000. The journal entry to record this situation at December 31,2020 will result in a credit to? market citnis follows. 4 On January 1, 2020 FL citrus began construction of new! and ready for use on September 30, 2020. Expenditures for the contuction were sonuary 1, 2020 $ 400.000 August 1, 2020 600,000 tember 30, 2020 1,000,00 te fitnes borrowed 300,000 on a construction loan at 12 % interest on January 1, 2020, This loan will not be paid till mid 2021. The also had a $2,000,000, 9% bonds outstanding in 2020 and 2021. For Fiscal Period 2020. We guted average accumulated expenditure