Marigold Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2026 at a cost of $993,000. At December 31, 2025, the raw materials to be purchased have a market value of $945,800. In 2026, Marigold paid $993,000 to obtain the raw materials which were worth $945,800. Prepare the entry to record the purchase assuming the company uses a periodic inventory system. (List all debit entries before credit entries. Credit account titles are autchatically indented when amount is entered, Do not indent manually. If no entry is required, select "No entry" for the occount tittes and enter of or the amounts.) Account Titles and Explanation Debit Credit