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hala Co. enters into a contract with lele Co. to purchase 500 machines during 2022....

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Accounting

hala Co. enters into a contract with lele Co. to purchase 500 machines during 2022. The machines are priced at $3000 each (with a cost of $2500 each), and lele provides a 6% volume discount if hala Co. purchases at least 300 machines. Based on prior experience with the transactions with hala Co., the Co. will meet the discount threshold. On March 17, 2022, lele Co. sold and delivered 200 machines to hala Co. and recorded sales net. On May 1, 2022 lele Co. received the payment from hala Co. (assume hala Co. fails to meet the discount threshold).

prepare the needed entries ????

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