Pina Colada Corp $,$ a public company using IFRS signed a longterm non cancellable purchase commitment with a major supplier to purchase raw materials at an annual cost of $\backslash$$$1\mathrm{.}700\mathrm{.}000.$ At December $31,2022,$ the raw materials to be purchased in $2023$ a market price of $$1,457,000($ a$)$ Your answer is correct Prepare any December $31,2022$ entry that is needed. $($ Credit account titles automatically indented when the amount is enteredDo entry is select Entry for the account and enter for the amounts debit entry before credit entry Date Credit Debit Account Titles and Explanation $243000$ Dec. $31,2022$ on Purchase Contracts $243000$ for Onerous Contracts eTextbook and Media List of Accounts Attempts : $1$ of $3$ used $($ b$)2023$ Pina Colada receives the raw materials and pays the required S$1,700,000$ The raw materials now have a market value of $1,407,000$ Prepare the entry to record the purchase $($Credit account titles are automatically indented when the amount is enteredDo not indent manually if no entry is required, select No Entry for the account titles and enter for the amounts all debit entries before$$credit$$entries