Blue Ranch & Farm 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 Blue's products. Pricing and cost information on three of Blue's most popular products are as follows. Item Mini-trencher Power fence hole auger Grain/hay dryer Standalone Selling Price (Cost) $3,300 ($2,000) 1,100 (900) 13,200 (10,000) Respond to the requirements related to the following independent revenue arrangements for Blue Ranch & Farm. On August 10, 2020, Blue sells 17 mini-trenchers to a farm co-op in western Minnesota on account. Blue provides a 4% volume discount on the mini-trenchers if the co-op has a 15% increase in purchases from Blue compared to the prior year. Given the slowdown in the farm economy, sales to the co-op have been flat, and it is highly uncertain that the benchmark will be met. Prepare the journal entry for Blue on August 10, 2020. (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 for the amounts.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold)