Current Attempt in Progress Sweet Acacia Commodities Company signed a long-term noncancelable purchase commitment with a major vegetable supplier to purchase produce in 2021 at a cost of $715,000. At December 31, 2020, the produce to be purchased has a market value of $643,500. Prepare any necessary December 31, 2020 entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit