On May 10, 2020, Bonita Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2020. Greig agrees to pay the full contract price of $2,110 on July 15, 2020. The cost of the goods is $1,460. Bonita delivers the product to Greig on June 15, 2020, and receives payment on July 15, 2020. Prepare the journal entries for Bonita related to this contract. Either party may terminate the contract without compensation until one of the parties performs. (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
choose a transaction date May 10, 2020Jun. 15, 2020Jul. 15, 2020	enter an account title to record contract entered into	enter a debit amount	enter a credit amount
	enter an account title to record contract entered into	enter a debit amount	enter a credit amount
	(To record contract entered into)
choose a transaction date May 10, 2020Jun. 15, 2020Jul. 15, 2020	enter an account title to record sales	enter a debit amount	enter a credit amount
	enter an account title to record sales	enter a debit amount	enter a credit amount
	(To record sales)
	enter an account title to record cost of goods sold	enter a debit amount	enter a credit amount
	enter an account title to record cost of goods sold	enter a debit amount	enter a credit amount
	(To record cost of goods sold)
choose a transaction date May 10, 2020Jun. 15, 2020Jul. 15, 2020	enter an account title to record payment received	enter a debit amount	enter a credit amount
	enter an account title to record payment received	enter a debit amount	enter a credit amount
	(To record payment received)