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On May 1, 2023, Moore Inc. entered into a contract to deliver one of its specialty mowers to Sunland Landscaping Co. The contract requires Sunland
On May 1, 2023, Moore Inc. entered into a contract to deliver one of its specialty mowers to Sunland Landscaping Co. The contract requires Sunland to pay the contract price of $890 in advance, on May 15, 2023. Sunland pays Moore on May 15, 2023, and Moore delivers the mower (with a cost of $550 ) on May 31, 2023. Moore follows IFRS. (a) Prepare the journal entry on May 1, 2023, for Moore. (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 O for the amounts. List debit entry before credit entry.)
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