On May 1, 2020, Sunland Inc. entered into a contract to deliver one of its...
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On May 1, 2020, Sunland Inc. entered into a contract to deliver one of its specialty mowers to Kickapoo Landscaping Co. The contract requires Kickapoo to pay the contract price of $949 in advance on May 15, 2020. Kickapoo pays Sunland on May 15, 2020, and Sunland delivers the mower (with cost of $619) on May 31, 2020. (a) Prepare the journal entry on May 1, 2020, for Sunland.
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