Concord Company manufacturesequipment. Concord's products range from simple automated machinery to complex systems intallation process does not inolve changes to the features of the equipment and does not require proprietary information about thes equipment in order for theinstalled equipment to perform to speciffeations. Concord has the following arrangement with Henderson Inc * Hendersan purchases equipment from Concord for a price of $1,090,000 and contracts with Concord to install the equipment. Concord charges the same price for the equipment irrespective of whether it does the installation or not. If ecost of the equibment is $566000. Concord defivers the equipment on June 1,2020, and completes the instaliation of the equipmention September 30, 2020. The eqsipment has a wseluf life of 10 vears, Assame that the equipment and the installation ace two distinct performancerobligations Which should be accounted for separately Which shoold be accounted for scparately. chargin relative to cont Prepare the journal entries for Concord for this revenue arrangement in 202 (Fassuming Concord receives payment when intallation iscompleted. (Credit account tities are automatically indented when the amount is entered. Do not inder: manually. If no entry is required, sefect "No entry" for the occount titles and enter o for the amounts)