Haskins, Inc., has reached an agreement with a customer, Skaife Corporation, to deliver $300$ units of a customized product. The standard billing price per unit is $$1,000,$ and there are no discounts, so Skaife Corporation will pay $$300,000$ in total. At the time of the agreement on April $6,$ Skaife Corporation provides a $$60,000$ cash deposit to Haskins, Inc. Haskins agrees to deliver $180$ units to Skaife Corporation on May $31$ and at that time, Haskins can send an invoice for $$75,000$ to be paid by Skaife Corporation on June $15.$ The remaining $120$ units are to be delivered on July $15,$ accompanied by an invoice for the remaining amount of the total $$300,000$ purchase price to be paid on July $31.$

REQUIRED

Assume that Haskins, Inc., has no uncertainties about its own ability to meet the terms of the contract or about Skaife Corporation$$s ability and willingness to pay. Report the events described above in the $$nancial statement e$$ects template $($leaving out the accounting for Haskins, Inc.$$s costs$).$ Please use FSET