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Holt Industries received a $ 2 , 0 0 0 prepayment from the Ramirez Company for the sale of new office furniture. Holt will bill

Holt Industries received a $

2, 000

prepayment from the Ramirez Company for the sale of new office furniture. Holt will bill Ramirez an additional $

3, 000

upon delivery of the furniture to Ramirez. Upon receipt of the $

2, 000

prepayment, how much should Holt recognize for a contract asset, a contract liability, and accounts receivable?

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