Problem 9-16 Purchase commitments [Appendix] In November 2016, the Brunswick Company signed two purchase commitments. The first commitment requires Brunswick to purchase 10,000 units of inventory at $10 per unit by December 15, 2016. The second commitment requires the company to purchase 20,000 units of inventory at $11 per unit by March 15, 2017. Brunswick's fiscal year-end is December 31. The company uses a periodic inventory system. Both contracts were exercised on their expiration date Required: 1. Prepare the journal entry to record the December 15 purchase for cash assuming the following alternative unit market prices on that date: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $10.50 b. $9.50 view transaction list view general journal Journal Entry Worksheet 1 2 Record the purchase for cash of 10,000 units when the market price is $10.50 per unit. Debit Event General Journal Credit a. *Enter debits before credits done clear entry record entry