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On May 1, 2017, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2017. It is agreed that

On May 1, 2017, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2017. It is agreed that Eric will pay the full price of $25,000in advance on June 15, 2017.Eric pays on June 15, 2017, and Mount delivers the product on September 30, 2017.need to prepare necessary journal entries required for Mount in 2017.

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