Required information On May 1, 2022, a company purchased a put option on shares of RMH stock for speculative purposes. The contract was for 100 shares at a strike price of $115 per share, with an expiration date of July 31, 2022. The company settled the option on July 11 (assume cash settlement). Additional information pertaining to the option is provided below. Price per share of stock Time value of options May 1 $115 $40 June 30 $104 $33 $107 $26 Use the information above to answer the questions below Provide any Journal entry needed to update the intrinsic value of the option contract on June 30. View transaction liat Journal entry worksheet Provide any journal entry needed to record the change in intrinsic value of the option Note: Enter debits before credits S No/Date Account Title Debit Credit June 30 Required information On May 1, 2022, a company purchased a put option on shares of RMH stock for speculative purposes. The contract was for 100 shares at a strike price of $115 per share, with an expiration date of July 31, 2022. The company settled the option on July 11 (assume cash settlement). Additional information pertaining to the option is provided below. Price per share of stock Time value of option: May 1 $115 $40 June 30 $104 $33 July $107 $26 Use the information above to answer the questions below. Compute the balance of the Put Option account as of June 30. Put Option account balance on June 30