Cullumber Ranch & Riverbed is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Cullumber's products. Pricing and cost information on three of Cullumber's most popular products are as follows Standalone Selling Price (Cost) Item $4,000 ($2,000) Mini-trencher Power fence hole auger (800 1,300 Grain/hay dryer (10,800) 13,600 Respond to the requirements related to the following independent revenue arrangements for Cullumber Ranch & Riverbed. (c) Cullumber sells three grain/hay dryers to a local farmer at a total contract price of $44,30o. In addition to the dryers, Cullumber provides installation, which has a standalone selling price of $1,100 per unit installed. The contract payment also includes a $1,200 maintenance plan for the dryers for 3 years after installation. Cullumber signs the contract on June 20, 2017, and receives a 20% down payment from the farmer. The dryers are delivered and installed on October 1, 2017, and full payment is made to Cullumber. Prepare the journal entries for Cullumber in 2017 related to this 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.) Account Titles and Explanation Debit Credit Date Jun. 20, 2017 Cash Accounts Receivable Unearned Sales Revenue Unearned Service Revenue - Maintenance No Entry Cash Jun. 20, 2017 Accounts Receivable (To record payment received) (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold)