Bridgeport 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 Bridgeports products. Pricing and cost information on three of Bridgeports most popular products are as follows.

Item		Standalone Selling Price (Cost)
Mini-trencher		$ 3,200	($2,100	)
Power fence hole auger		1,100	(800	)
Grain/hay dryer		14,100	(10,100	)

Bridgeport sells three grain/hay dryers to a local farmer at a total contract price of $45,600. In addition to the dryers, Bridgeport provides installation, which has a standalone selling price of $1,000 per unit installed. The contract payment also includes a $1,200 maintenance plan for the dryers for 3 years after installation. Bridgeport signs the contract on June 20, 2020, and receives a 20% down payment from the farmer. The dryers are delivered and installed on October 1, 2020, and full payment is made to Bridgeport. Prepare the journal entries for Bridgeport in 2020 related to this arrangement. (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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date	Account Titles and Explanation	Debit	Credit
Jun. 20, 2020
Jun. 20, 2020/Oct. 1, 2020/Dec. 31, 2020
	(To record payment received)
	(To record sales)
	(To record cost of goods sold)
Jun. 20, 2020/Oct. 1, 2020/Dec. 31, 2020

On April 25, 2020, Bridgeport ships 110 augers to Farm Depot, a farm supply dealer in Nebraska, on consignment. By June 30, 2020, Farm Depot has sold 50 of the consigned augers at the listed price of $1,100 per unit. Farm Depot notifies Bridgeport of the sales, retains a 10% commission, and remits the cash due Bridgeport. Prepare the journal entries for Bridgeport and Farm Depot for the consignment arrangement. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Entries for Bridgeport
Apr. 25, 2020/Jun. 30, 2020
Jun. 30, 2020
	(To record payment received)
	(To record cost of sales)
Entries for Farm Depot
Apr. 25, 2020/Jun. 30, 2020
Apr. 25, 2020/Jun. 30, 2020
	(To record consignment sales)
Apr. 25, 2020/Jun. 30, 2020
	(To record payment)

List of Accounts

Assistance Used

• Accounts Receivable
• Accounts Payable
• Advertising Expense
• Allowance for Sales Returns and Allowances
• Billings on Construction in Process
• Cash
• Cash, Parts, Labor
• Commission Expense
• Commission Revenue
• Construction in Process
• Construction Expenses
• Contract Asset
• Contract Liability
• Cost of Goods Sold
• Cost of Installment Sales
• Deferred Gross Profit
• Delivery Expense
• Discount on Notes Receivable
• Estimated Inventory Returns
• Finished Goods Inventory
• Franchise Revenue
• Freight- Out
• Gain on Repossession
• Income Summary
• Installment Accounts Receivable
• Installment Sales Revenue
• Interest Expense
• Interest Revenue
• Inventory
• Inventory on Consignment
• Liability to Bonus Point Customers
• Liability to Enyart Company
• Liability to Werner Metal Company
• License Revenue
• Loss from Long-Term Contracts
• Loss on Repossession
• Materials, Cash, Payables
• No Entry
• Notes Receivable
• Operating Expenses
• Payable to Consignor
• Purchases
• Realized Gross Profit
• Repossessed Merchandise
• Retained Earnings
• Returned Inventory
• Revenue from Consignment Sales
• Revenue from Franchise Fees
• Revenue from Long-Term Contracts
• Sales Discounts
• Sales Discounts Forfeited
• Sales Returns and Allowances
• Sales Revenue
• Service Revenue
• Unearned Franchise Revenue
• Unearned Sales Revenue
• Unearned Service Revenue - Installation
• Unearned Service Revenue - Maintenance
• Unearned Warranty Revenue
• Warranty Expense
• Warranty Liability