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65. During 2016, L Co. entered into a non-cancellable contract to purchase 200,000 pounds of cocoa beans at $3 per pound, delivery to be made in January 2017. By December 31, 2016, bean price per pound was $2.30. At year-end 2016, L should debit a. Cocoa Inventory and credit Accounts Payable for $600,000. b. Cocoa Inventory for $460,000, debit Unrealized Loss on Purchase Commitments for $140,000, and credit Accounts Payable for $600,000. c. Unrealized Loss on Purchase Commitments and credit Estimated Liability on Purchase Commitment for $140,000. d. Unrealized Loss on Purchase Commitments and credit Accounts Payable for $140,000