Question 4 04/1 View Policies Show Attempt History Current Attempt in Progress - Your wwer is partially correct. On August 15, 2018, Cullumber Co. invested ide cash by purchasing a call option on Counting Crows Inc. common shares for $738. The notional value of the call option is 820 shares, and the option price is $82. The option expires on January 31, 2020. The following data are available with respect to the call option Market Price of Counting Time Value of Call Date Crows Shares Option September 30, 2019 $98 per share $369 December 31, 2019 $94 per share 133 January 15, 2020 $96 per share Prepare the journal entries for Cullumber for the following dates a) Investment in call option on Counting Crows shares on August 15, 2019 September 30, 2019-Cullumber prepares francial statements. Id December 31, 2019-Cullumber prepares financial statements 14) January 15, 2020-Cullumber settles the call option on the Counting Crows shares Credit account titles are automatically indented when amount is entered. Do not inden malline entry is required, select "No Entry for the account ties and enter for the amounts) No. Date Account Titles and Explanation Debit Credit (a) Aug 15, 2019 Call Option Cash 738 (6) 13120 Sen 30, 2019 CallOption Unrele Holding Gain or loss become 13.120 (To record the change in intrinsic value) 352 Und Holding in eros.com Caption 30 (To record the time value change) (C) Dec 31, 2017 U Holding income ClOption (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select 'No Entry for the account titles and en No. Debit Credit Date Aug 15.2019 Account Titles and Explanation CallOption (a) 738 Cash 738 (b) Sep 30, 2019 13.120 9120 369 Call Option Unrealed Holding Gain or Low Income (To record the change in intrinsic value.) Unrealed Holding Gain or outcome Call Option (To record the time value change.) Urvealed Holding Goin or Loss -Income CallOption (To record the change in intrinsic value) Urve Holding Gain oroon (c) Dec 31, 2019 3260 3.280 2:36 2:36 (0) Call Option (To record the time value change.) Unrealized Holding Gain or Lonneme CallOption (To record the time was change) 30 Canon Settlement of Call Option 1 (To record settlement of call option) e Textbook and Media List of ACCS > 1 7 $ 4 %6 5 8 7 2 3 6 8 9 Q W E R T Y A S D F G H J N X C V B N M