Mrs. Jones offers a reward for the return of her dog Fifi and puts posters advertising the reward all over her neighborhood. Mr. Brown finds and returns Fifi without seeing any of the posters. If Mr. Brown later sees one of the posters and asks Mrs. Jones for the reward money: a. Mrs. Jone will have to pay Mr. Brown the reward money because she made a public offer.
b. Mrs. Jones will have to pay Mr. Brown the reward money because she left the posters up after Fifi had already been returned.
c. Mrs. Jones will not have to pay anyting to Mr. Brown because the offer was not communicated to him before he returned Fifi.
d. Mrs. Jomes will ot need to pay Mr. Brown the reward money because it is a unilateral contract.

In march 2018, the phillips tool company signed two purchase commitments. the first commitment requires phillips to purchase inventory for $110,000 by june 15, 2018. the second commitment requires the company to purchase inventory for $160,000 by august 20, 2018. the company's fiscal year-end is june 30. phillips uses a periodic inventory system. the first commitment is exercised on june 15, 2018, when the market price of the inventory purchased was $90,000. the second commitment was exercised on august 20, 2018, when the market price of the inventory purchased was $125,000. required: prepare the journal entries required on june 15, june 30, and august 20, 2018, to account for the two purchase commitments. assume that the market price of the inventory related to the outstanding purchase commitment was $144,000 at june 30. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)