Need the answer to the entries 3-8 and also their credit and debit numbers. Thanks

Amaretta Company [a U.S.-based company} ordered merchandise from a foreign Supplier on November 20 at a price of1,010,000 rupees when the spot rate was $0.050 per rupee. Delivery and payment were scheduled for December 20. On November 20, Amaretta acquired a call option on 1,010,000 rupees at a strike price of $0.050, paying a premium of $0.001 per rupee. The company designates the option as a fair value hedge of a foreign currency firm commitment. The fair value ofthe firm commitment is measured by referring to changes in the spot rate. The option's time value is excluded from the assessment of hedge effectiveness, and the change in time value is recognized in net income. The merchandise arrives, and Amaretta makes payment according to schedule. Amaretta sells the merchandise by December 31, when it closes its books. Assuming a spot rate of $0.053 per rupee on December 20, prepare alljournal entries to account for the foreign currency option, foreign currency firm commitment, and purchase of inventory. 6 Answer is not complete. Complete this question by entering yuur answers in the labs below. Required A Assuming a spot rate of $0.053 per rupee on December 20, prepare all journal entries to account for the foreign currency option, foreign currency firm commitment, and purchase of inventory. (If no entry is required for a transactionfevent, select I"No journal entry required" in the rst account eld.) 1 11120 Foreign currency option a Cash 9 2 1120 No journal entry required a 3 12.01] No journal entry required a 4 12.00 No journal entry required a 5 1291] No journal entry required 6 5 12.00 No journal entry required 0 T 1231 No journal entry required a 8 1281 Ne journal entry required 6