Problem $3(15$ points$)$

Company A signs a contract to purchase $1,000$ tons of coal for $$50$ per ton. The $$50$ purchase price is good for one year. At the time the contract was signed, no journal entry was required. The price of coal has now gone up to $$55$ per ton. Record the journal entry required.

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[,,]]$