Manufacturer M, a large equipment manufacturer, enters into a contract to sell Product A to Customer C for an upfront cash payment of € 300,000. Upon signing the contract, Manufac-turer M expects to deliver Product A to Customer C in two years' time. The performance obli-gation will be satisfied at a point in time. Manufacturer M's borrowing rate is 10% (the rate that would be used in a separate financing transaction). 

Manufacturer M concludes that the contract contains a significant financing component. 

What are the journal entries to record?