Your answer is correct.

Prepare the journal entry to recognize the change in the call option's fair value as at March $31,2023.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.$)$

$\backslash$table$[[$Date Account Titles and Explanation$],[$March $31,$ Debit$],[2023$ Derivatives $-$ Financial Assets$/$Liabilities$],[$Gain or Loss on Derivatives$]]$

$($c$)$

Your answer is partially correct.

What was the effect on net income of entering into the derivative transaction for the period from January $2$ to March $31,2023?$

The $$ net income for the period January $2$ to March $31,2023$ by $ $$

Attempts: $1$ of $3$ used