Ivanhoe Company manufactures equipment. Ivanhoe's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,530,000, and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment to perform to specifications. Ivanhoe has the following arrangement with Metlock Inc. Metlock purchases equipment from Ivanhoe on May 2, 2023, for a price of $1,115,500 and contracts with Ivanhoe to install the equipment. Ivanhoe charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Ivanhoe determines that the installation service is estimated to have a fair value of $34,500. The cost of the equipment is $500,000. Metlock is obligated to pay Ivanhoe the $1,081,000 on delivery of the equipment and the balance on the completion of the installation. Ivanhoe delivers the equipment on June 1, 2023, and completes the installation of the equipment on September 30, 2023. Assume that the equipment and the installation are two distinct performance obligations that should be accounted for separately. Prepare any journal entries for Ivanhoe on May 2, June 1, and September 30, 2023. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles and Explanation No Entry No Entry Cash Unearned Revenue Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) !023 Cash Unearned Revenue Service Revenue Debit 0 1081000 500000 34500 Credit 0 1155000 500000 33465