Hawkeye purchases bandanas for $2.00 a bandana and sells them for $4.00 a bandana. On August 1, 20X1, a customer paid (in cash) one-half of the purchase price for 5,000 bandanas (# of units) to be delivered on September 1 and October 1 (2,500 bandanas delivered on each date). The customer paid the remainder of the bill (in cash) on October 1.

a. Provide the journal entry(ies) Hawkeye made on August 1, 20X1.

b. Provide the journal entry(ies) made on September 1, 20X1

c. Provide the journal entry(ies) made on October 1, 20X1

d. What is the cumulative effect (amount and direction) of the transactions above on Hawkeye Inc.s net income (ignore any tax effects)?