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Prepare the journal entries for Sunland on May

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Question - On May 10, 2020, Sunland Co. enters into a contract to deliver a product to Splish Brothers Inc. on June 15, 2020. Splish Brothers agrees to pay the full price of $1,990 on July 15, 2020. The cost of goods is $1,110. Sunland delivers the product to Splish Brothers on June 15, 2020, and receives payment on July 15, 2020. Prepare the journal entries for Sunland on May 10, June 15, and July 15 related to this contract.

Reference no: EM132703786

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