Brief Exercise 18-19

On May 1, 2017, Tamarisk Company enters into a contract to transfer a product to Eric Company on September 30, 2017. It is agreed that Eric will pay the full price of $23,500 in advance on June 15, 2017. Eric pays on June 15, 2017, and Tamarisk delivers the product on September 30, 2017. Prepare the journal entries required for Tamarisk in 2017. (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