Cullumber Co. enters into a contract to sell Product A and Product B on January 2, 2023, for an upfront cash payment of $220,000. Product A will be delivered in two years (January 2, 2025) and Product B will be delivered in five years (January 2, 2028). Cullumber allocates the $220,000 to Products A and B on a relative stand-alone selling price basis as follows. Stand-Alone Selling Prices Percentage Allocated Allocated Amounts Product A $69,000 30% $66,000 Product B 161,000 70% 154,000 $230,000 $220,000 Cullumber uses an interest rate of 5%, which is its incremental borrowing rate. (a) Prepare the journal entries needed on January 2, 2023, and December 31, 2023. (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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit