Exercise 18-11 Wildhorse Windows manufactures and sells custom storm windows for three-season porches. Wildhorse 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. Wildhorse enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,510 and chooses Wildhorse to do the installation. Wildhorse charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Wildhorse $1,970 (which equals the standalone selling price of the windows, which have a cost of $1,100) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Wildhorse completes installation on October 15, 2020, and the customer pays the balance due. Wildhorse estimates the standalone selling price of the installation based on an estimated cost of $450 plus a margin of 30% on cost. Prepare the journal entries for Wildhorse in 2020. (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. Round answer to 0 decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit Jul. 1, 2020 No Entry 0 No Entry 0 (To record contract entered into) Sep. 1, 2020 Cash 1970 Accounts Receivable 540 Sales Revenue 1935 Unearned Service Revenue 575 (To record sales) Cost of Goods Sold 1100 Inventory 1100 (To record cost of goods sold) Oct. 15, 2020 Cash 540 Unearned Service Revenue 575 Accounts Receivable 540 Service Revenue 575 (To record payment received) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Given uncertainty of finding skilled labor, Wildhorse is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Wildhorse in 2020. (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.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) (To record payment received) Click if you would like to Show Work for this question: Open Show Work