On December 18, Intel receives $254,000 from a customer toward a cash sale of $2.54 million for computer chips to be completed on January 23. The computer chips had a total production cost of $1.54 million. What journal entries should Intel record on December 18 and January 23? Assume Intel uses the perpetual inventory system. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) View transaction list Journal entry worksheet Record the collection of cash on December 18. Note: Enter debits before credits. Date General Journal Debit Credit December 18 Record entry Clear entry View general journal Journal entry worksheet Record the sale of computer chips inventory and the remaining cash collection on January 23. Note: Enter debits before credits. Date General Journal Debit Credit January 23 Record entry Clear entry View general journal Journal entry worksheet