Brazz Coffee Shop enters into a contract with Company Co. on May 15, 2020, to deliver 100 bags of ground coffee beans to Company Co. on June 1. Company Co. agrees to pay $1,000 for the coffee beans, which cost Brazz $6 each. Brazz delivers the bags of coffee beans on June 1, 2020, and receives payment from Company Co. on June 20, 2020.

Prepare journal entries for Brazz Coffee Shop related to the contract.