On April 1, 2020, Gamma Corp. purchases a call option for $500, which gives Gamma the right to buy 1,000 shares of Delta Inc. for $30 each until December 1, 2020. Delta Inc. shares are currently trading for $30. At June 30, 2020, the options are trading at $4,800 and the shares at $32 each. At December 1, 2020, the options expire with no value. At December 1, 2020, Gammas entry would be

a)

Gain or Loss on Derivatives................................................................	4,300
DerivativesFinancial Assets..................		4,300

b) No entry required.

c)

Gain or Loss on Derivatives................................................................	4,800
DerivativesFinancial Assets..................		4,800

d)

Gain or Loss on Derivatives................................................................	2,000
DerivativesFinancial Assets..................		2,000