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Splish Company signed a long$-$term noncancelable purchase commitment with a major supplier to purchase raw materials in $2026$ at a cost of $$905,300.$ At December $31,2025,$ the raw materials to be purchased have a market value of $$854,700.$ Prepare any necessary December $31,2025,$ entry. $($List all debit entries before credit entries. 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 enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$

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List of Accounts

Attempts: $0$ of $2$ used