Crane Company manufactures products ranging from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Crane has the following arrangement with Waterway Inc. Waterway purchases equipment from Crane for a price of $950,000 and contracts with Crane to install the equipment. Crane charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Crane determines installation service is estimated to have a standalone selling price of $50,000. The cost of the equipment is $580,000. . Waterway is obligated to pay Crane the $950,000 upon the delivery of the equipment. Crane delivers the equipment on June 1, 2025, and completes the installation of the equipment on September 30, 2025. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations which should be accounted for separately. Prepare the journal entries for Crane for this revenue arrangement on June 1, 2025 and September 30, 2025, assuming Crane receives payment when installation is completed. (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 O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation June 1, 2025 Accounts Receivable Sales Revenue Unearned Sales Revenue (To record sales) June 1, 2025 : Cost of Goods Sold Inventory (To record cost of goods sold) Sep 30, 2025 # Cash Accounts Receivable Debit Credit 950,000 580000 950000 9C 95