Refer to the revenue arrangement in BE6.20. Prepare the journal entries for Geraths on July 1, September 1, and October 15, 2020.

BE6.20

Geraths Windows manufactures and sells custom storm windows for three-season porches. Geraths also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Geraths enters into the following non-cancellable contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,400 and chooses Geraths to do the installation. Geraths charges the same price for the windows regardless of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $600. The customer pays Geraths $2,000 (which equals the fair value of the windows, which have a cost of $1,100) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Geraths completes installation on October 15, 2020, and the customer pays the balance due. Using the five-step process for revenue recognition, determine when and how much revenue would be recognized by Geraths. Round percentage allocations to two decimal places and final amounts to the nearest dollar. Assume Geraths follows IFRS.