In 2025, Blossom Co.. a manufacturer of chocolate candies, contracted to purchase 248000 pounds of cocoa beans at $3.80 per pound, delivery to be made in the spring of 2026. Because a record harvest is predicted for 2026 , the price per pound for cocoa beans had fallen to $3.20 by December 31,2025 . Of the following journal entries, the one which would properly reflect in 2025 the effect of the commitment of Blossom Co, to purchase the 248000 pounds of cocoa is