On March 15, Drexel Corp. provides goods to a retailer through consignment where Drexel Corp. retains ownership of the goods until the goods are sold to the retailers customer. Sale to the final customer is documented when the goods are scanned at the cash register of the retailer and are reported to Drexel Corp. Any unsold product can be returned to Drexel Corp. at any time and Drexel can recall any goods shipped. After the sale of the products to the final customer, the retailer cannot return the items to Drexel Corp. During March, Drexel Corp. transferred 12,000 units to the retailer, and the retailer sold 10,000 units. The product cost Drexel Corp. $50 per unit and the product was sold for $120 per unit to the end customer. A payment to Drexel Corp. for the cash collected on the sale of product (less a 10% sales commission) will be remitted next month.

Record Drexels entries on March 15 and March 31 (the period-end). Note: If a journal entry isn't required on any of the dates shown, select "N/Adebit" and "N/Acredit" as the account names and leave the Dr. and Cr. answers blank (zero).

Date	Account Name	Dr.	Cr.
Mar 15	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	To record sales
Mar 31	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	To record sales
	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	Accounts ReceivableCashContract AssetCost of Goods SoldDeferred RevenueDue from ConsigneeInterest ExpenseInventorySales Commission ExpenseSales RevenueN/AdebitN/Acredit		Answer
	To record cost of sales