32. Callus Equipment Company formed a contract on November 1, 2020. The agreement calls for Callus deliver equipment (inventory). The selling price is $3,000 and the buyer will make monthly $885.72 payments starting December 1. The interest rate on the agreement is 4%. Callus cost in the product sold is $2,100.

Callus uses a perpetual inventory system and files annual financial statements on the calendar year.

Provide the journal entries for November 1, December 1 and December 31, 2020.