In September 2017, Sheffield Corp. commits to selling 149 of its iPhone-compatible docking stations to Better Buy Co. for $16,390 ($110 per product). The stations are delivered to Better Buy over the next 6 months. After 92 stations are delivered, the contract is modified and Sheffield promises to deliver an additional 45 products for an additional $4,725 ($105 per station). All sales are cash on delivery.

Prepare the journal entry for Sheffield for the sale of the first 92 stations. The cost of each station is $52.(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.)

Account Titles and Explanation

Debit

Credit

(To record sales)

(To record cost of goods sold)