Exercise 18-11 Larkspur Windows manufactures and sells custom storm windows for three-season porches. Larkspur also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Larkspur enters into the following contract on July 1, 2017, with a local homeowner. The customer purchases windows for a price of $2,490 and chooses Larkspur to do the installation. Larkspur charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Larkspur $1,950 (which equals the standalone selling price of the windows, which have a cost of $1,110) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2017, Larkspur completes installation on October 15, 2017, and the customer pays the balance due. Larkspur estimates the standalone selling price of the installation based on an estimated cost of $430 plus a margin of 10% on cost. Prepare the foumal entries for Larkspur in 2017. (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. Round answer to o decimal places, e.g. 5,125.) Account Titles and Explanation Debit Credit Date Jul 1, 2017 (To record contract entered into) Sep. 1, 2017 (To record sales) (To record cast of goods sold) Oct 15, 2017 (To record payment received) Given uncertainty of finding skilled labor, Larkspur is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Larkspur in 2017. (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.) Date Account Titles and Explanation Debit Credit Sep. 1, 2017 (To record sales) (To record cost of goods sold) Oct. 15, 2017 (To record payment received) Click if you would like to Show Work for this question: Open Show Work