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Nash Ranch & Crane is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Nashs products. Pricing and cost information on three of Nashs most popular products are as follows.

Item		Standalone Selling Price (Cost)
Mini-trencher		$ 3,200	($1,900	)
Power fence hole auger		1,100	(700	)
Grain/hay dryer		14,500	(11,200	)

Respond to the requirements related to the following independent revenue arrangements for Nash Ranch & Crane.

Nash sells three grain/hay dryers to a local farmer at a total contract price of $46,800. In addition to the dryers, Nash provides installation, which has a standalone selling price of $1,000 per unit installed. The contract payment also includes a $1,200 maintenance plan for the dryers for 3 years after installation. Nash signs the contract on June 20, 2017, and receives a 20% down payment from the farmer. The dryers are delivered and installed on October 1, 2017, and full payment is made to Nash. Prepare the journal entries for Nash in 2017 related to this arrangement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jun. 20, 2017 Cash Accounts Receivable Unearned Sales Revenue (To record payment received) (To record sales) (To record cost of goods sold)

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