Carla Vista Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on Carla Vistas main products are as follows.

Item		Stand-Alone Selling Price (Cost)
Refrigerator		$540 ($245)
Range		$570 ($270)
Stackable washer/dryer unit		$750 ($425)

Customers can contract a purchase either individually at the stated prices or for a three-item bundle with a price of $1,900. The bundle price includes delivery and installation. Carla Vista provides delivery and installation as a stand-alone service for any of its products for $100. The company follows IFRS. Respond to the requirements related to the following independent revenue arrangements for Carla Vista Appliance Co.

YellowCard Property Managers operates upscale student apartment buildings. On May 1, 2020, Carla Vista signs a contract with YellowCard for 260 appliance bundles to be delivered and installed in one of its new buildings. YellowCard pays 20% cash at contract signing and will pay the balance upon delivery and installation no later than August 1, 2020. Prepare journal entries for Carla Vista on May 1, 2020, and August 1, 2020, when all appliances are delivered and installed.

Refer to the arrangement in part (b). It would help YellowCard secure lease agreements with students if the delivery and installation of the appliance bundles can be completed by July 1, 2020. YellowCard offers a 10% bonus payment if Carla Vista can complete delivery and installation by July 1, 2020. Carla Vista estimates its chances of meeting the bonus deadline to be 60%, based on a number of prior contracts of similar scale. Repeat the requirement for part (b), given this bonus provision. Assume installation is completed by July 1, 2020.

Epic Rentals would like to take advantage of the bundle price for its 420-unit project. On February 1, 2020, Carla Vista signs a contract with Epic for delivery and installation of 420 bundles. Under the agreement, Carla Vista will hold the appliance bundles in its warehouses until the new rental units are ready for installation. Epic pays 10% cash at contract signing. On April 1, 2020, Carla Vista completes manufacture of the appliances in the Epic bundle order and places them in the warehouse. Carla Vista and Epic have documented the warehouse arrangement and identified the units designated for Epic. The units are ready to ship, and Carla Vista may not sell these units to other customers. Prepare journal entries for Carla Vista on February 1, 2020, and April 1, 2020.