Current Attempt in Progress A U$.$S$.$ company estimated that, in the first two months of $2026,$ its export sales to a Swiss company would generate $420,000$ francs. On December $1,2025,$ in an effort to protect against the weakening franc, the company purchased an option $($out of the money$)$ to sell $420,000$ Swiss francs at an exchange rate of $\backslash (\backslash$$ $0\mathrm{.}60\backslash )$ with an expiration date of February $25,2026.$ The cost of the option was $\backslash (\backslash$$ $6,400\backslash ).$ The spot rates on the following dates were: The option's value in the options market on December $31,2025,$ was $\backslash$$$9,100.$ December $31$ is also an interim reporting date. The option was exercised on February $25,2025.$ Prepare all journal entries needed on December $1,$ December $31,$ and February $25$ to account for the option. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$ Date Account Titles and Explanation $($To adjust the option value to its current realizable value$)$ Credit $($To exercise the option and settle with the trader$)$