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On April 1, 2020, Gamma Corp. purchases a call option, which gives Gamma the right to buy 1,000 shares of Delta

Inc. until December 1, 2020. Gamma Corp. has a year-end of June 30. Other information pertaining to the call option follows: Purchase price of call option on April 1, 2020 $346 Option strike price per share $32 Market value per Delta Inc. share on April 1, 2020 $32 Market value of call option on June 30, 2020 $45,792 Market value per Delta Inc. share on June 30, 2020 $41 On December 31, 2020, the option expires with no value. Required: all required journal entries for the option for the fiscal years ended June 30, 2020 and June 30, 202

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