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Sandhill Company manufactures equipment. Sandhill's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $225,000 to $1,500,000, and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment to perform to specifications. Sandhill has the following. arrangement with Winkerbean Inc. - Winkerbean purchases equipment from Sandhill on May 2, 2020, for a price of $1,110,000 and contracts with Sandhill to install the equipment. Sandhill charges the same price for the equipment irrespective of whether it does the installation or not. Sandhill determines that the installation service is estimated to have a fair value of $50,000. The cost of the equipment is $700,000. - Winkerbean is obligated to pay Sandhill the $1,060,000 upon delivery of the equipment and the balance on the completion of the installation Sandhill delivers the equipment on June 1, 2020, and completes the installation of the equipment on September 30 , 2020. Assume that the equipment and the installation are two distinct performance obligations that should beaccounted for separately. Sandhill does not have market data with which to determine the stand-alone selling price of the installation services. As a result. an expected cost plus margin approach is used. The cost of installation is $37,000; Sandhilf prices these services with a 25% mar gin relative to cost. Prepare any journal entries for Sandhill on May 2, June 1, and September 30. 2020. (Credit account titles are automoticolly indented. when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record joumal entries in the order presented in the problem.)