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On December 12, 2018, Pace Electronics received $42,000 from a customer toward a cash sale of $420,000 of diodes to be completed on January 16,

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On December 12, 2018, Pace Electronics received $42,000 from a customer toward a cash sale of $420,000 of diodes to be completed on January 16, 2019. What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet

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