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(Chapter 18) On May 1st, Pink Inc. entered into a contract to buy a $92,000 plow from Paisley Corp. The contract required Pink to pay

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(Chapter 18) On May 1st, Pink Inc. entered into a contract to buy a $92,000 plow from Paisley Corp. The contract required Pink to pay $92,000 in advance on May 1st. Paisley delivered the plow on May 30th. For Paisley, a May 1st journal entry credits Accounts Receivable for $92,000. is not necessary. credits Unearned Sales Revenue for $92,000. credits Sales Revenue for $92,000

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