On January 1, 2017, Wildhorse Co. enters into a contract to sell a customer a wiring base and a shelving unit that sits on the base in exchange for $2,950. The contract requires delivery of the base first but states that payment for the base will not be made until the shelving unit is delivered. Wildhorse identifies two performance obligations and allocates $1,000 of the transaction price to the wiring base and the remainder to the shelving unit. The cost of the wiring base is $900; the shelves have a cost of $300. Prepare the journal entry on January 1, 2017, for Wildhorse. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit January 1, 2017 Prepare the journal entry on February 5, 2017, for Wildhorse when the wiring base is delivered to the customer. (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 0 for the amounts.) Account Titles and Explanation February 5, 2017 (To record sales.) February 5, 2017 To record cost of goods sold.) Prepare the journal entry on February 25, 2017, for Wildhorse when the shelving unit is delivered to the customer and Wildhorse receives full payment. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit February 25, 2017 To record sales.) February 25, 2017 To record cost of goods sold.)