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On July 5, 2023, Sheffield Corp. purchased a call option for $2360, giving it the right to buy 1980 shares of Grouper Corp. for $19

On July 5, 2023, Sheffield Corp. purchased a call option for $2360, giving it the right to buy 1980 shares of Grouper Corp. for $19 per hare. On August 18, 2023, when the option value is $12500, Grouper settles the option for cash. The entry on Sheffield's books to ecord the settlement is

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