On December 18, Intel receives $260,000 from a customer as down payment on a total sale of $2.6 million for computer chips to be completed on January 23. On January 23, the computer chips were delivered and the remaining cash was received from the custome What journal entries should Intel record on December 18 and January 23? Assume Intel uses the perpetual inventory system, and the computer chips had a total production cost of $1.6 million. (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 1 2 3 Record the collection of cash on December 18. Note: Enter debits before credits Date December 18 General Journal Debit Credit