Answer:
Journal entries
Date               Account title and explanation    PR. No.    Debit ($)    Credit ($)
June 15,2021        Purchases                                             $85,500
                              Loss on purchase commitment           $15,000
                              Cash                                                                        $100,000
                        (To record the payment for the loss on 
                          purchase commitment)
June 30,2021  Estimated loss on purchase 
                         commitment                                                $10,600
                            Estimated liability on purchase 
                         commitment                                                                   $10,600
                        (To record the loss on purchase commitment)
Aug 30,2021        Purchases                                             $120,500
                              Loss on purchase commitment           $19,900
                             Estimated liability on purchase 
                              commitment                                           $10,600
                            Cash                                                                           $151,000
                        (To record the payment for the loss on purchase commitment)
Explanation:
For June 15,  Loss on purchase commitment = Signed value of inventory - Market value of inventory = $100,000 - $85,500 = $14,500
For June 30, Loss on purchase commitment = Signed value of inventory - Market value of inventory = $151,000 - $140,400 = $10,600
For Aug 30, Loss on purchase commitment = Market price of inventory at June 30 - Market value of inventory at August 30 = $140,400 - $120,500 = $19,900