On June $1,2025,$ Crane Company sells $$163,000$ of shelving units to a local retailer, Windsor, which is planning to expand its stores in the area. Under the agreement, Windsor asks Crane to retain the shelving units at its factory until the new stores are ready for installation. Title passes to Windsor at the time the agreement is signed. The shelving units are delivered to the stores on September $1,2025,$ and Windsor pays in full. Prepare the journal entries for this bill$-$and$-$hold arrangement $($assuming that conditions for recognizing the sale as a bill$-$and$-$hold sale have been met$)$ for Crane on June $1$ and September $1,2025.$ The cost of the shelving units to Crane is $$60,000.($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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record sales$)$

$($To record cost of goods sold$)$