The spelling of the word "zolotov" can be explained using IPA phonetic transcription. In this spelling, the first two letters "zo" are pronounced as /zəʊ/, which represents the long o sound. The next three letters "lot" are pronounced as /lɒt/, which represents the short o sound. The last two letters "ov" are pronounced as /əv/, which represents the schwa sound followed by the v sound. Therefore, the correct spelling of this word is "zolotov" with a pronunciation of /zəʊlɒtəv/.