On April 1, 2020, Gamma Corp

On April 1, 2020, Gamma Corp. purchases a call option for $ 500, which gives Gamma the right to buy 1,000 shares of Delta Inc. for $ 30 each until December 1, 2020. Delta Inc. shares are currently trading for $ 30. At June 30, 2020, the options are trading at $ 4,800 and the shares at $ 32 each. At December 1, 2020, the options expire with no value. The entry to record the purchase of the call option is
$\begin{array}{ll} A)\text{Derivatives ............................................................ } & \quad\text{\ 500 \quad \quad \quad } \\\text{Cash ...................................................................} & \quad \quad\quad\quad\quad \quad \text{\ 500 \quad \quad\quad\quad \quad } \\ B) \text{ Cash .............................................................} & \quad \text{\ 500 \quad \quad \quad } \\ \text{ Derivatives-Financial Assets ..................................................} & \quad \quad\quad\quad\quad\quad {\text { 500 }}{}\\ C) \text{FV-NI Investments..........................................................} & \quad \text{\ 500 \quad \quad \quad } \\ \text{Cash........................................................................................} & \quad \quad \quad \quad \quad\quad \text{\ 500 \quad \quad \quad } \\D) \text{No entry required } & \quad \text{\ \quad \quad \quad } \\ \ \end{array}$