Question 43 2pts The Confectionery Company has a December 31"year end and a perpetual inventory system. On November 1, 2019, the company entered into a non-cancellable contract to purchase sugar on March 31, 2020 for $97,000. At December 31, 2019. the market price of the sun was $94.000. On March 31, 2020, the Confectionery Company paid the amount due for the sugar contract and received the sugar. The market value of the sugar at that time was still $94,000. Assuming that the Confectionery Company had correctly made all of the journal entries/adjusting journal entries prior to March 31, 2020, the journal entry on March 31, 2020 should include: A debit to Estimated Liability on Purchase Commitments for $3,000 Acredit to Cash for $94.000 A debit to inventory for $97.000 Acredit to Urrealised Holding Gain-Loss -Income (Purchase Commitments for $3,000 unction MacBook Pro