Coronado Ranch & Farm is a distributor of ranch and farm equipment. Its products include small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company Internet site. However, given some of its specialty products, select farm implement stores carry Coronados products. Pricing and cost information on three of Coronados most popular products are as follows.

Item		Stand-Alone Selling Price (Cost)
Mini-trencher		$3,600	($2,000)
Power fence hole auger		1,200	($900)
Grain/hay dryer		14,105	($11,000)

Respond to the requirements related to the following independent revenue arrangements for Coronado Ranch & Farm. IFRS is a constraint.

On April 25, 2020, Coronado ships 120 augers to Farm Depot, a farm supply dealer in Alberta, on consignment. By June 30, 2020, Farm Depot has sold 70 of the consigned augers at the listed price of $1,200 per unit. Farm Depot notifies Coronado of the sales, retains a 11% commission, and remits the cash due to Coronado. Prepare the journal entries for Coronado and Farm Depot for the consignment arrangement. (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. Record journal entries in the order presented in the problem.)

te Debit Credit Account Titles and Explanation Entries for Coronado - the Consignor 020 Cash 74760 20 (To record revenue from consignment sales) 020 (To record cost of gods sold) Entries for Farm Depot - the Consignee IO NOONI IN DONO 320 020 (To record revenue from consignment sales) 020 (To record payment on account)