Question
On May 10, 2020, Carla Vista Co. enters into a contract to deliver a product to Tamarisk Inc. on June 15, 2020. Tamarisk agrees to
On May 10, 2020, Carla Vista Co. enters into a contract to deliver a product to Tamarisk Inc. on June 15, 2020. Tamarisk agrees to pay the full price of $2,190 on July 15, 2020. The cost of goods is $1,310. Carla Vista delivers the product to Tamarisk on June 15, 2020, and receives payment on July 15, 2020. Prepare the journal entries for Carla Vista on May 10, June 15, and July 15 related to this contract. (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. Record journal entries in the order presented in the problem.)
Date Account Titles and Explanation Debit Credit
(May 10, 2020June 15, 2020July 15, 2020)
(May 10, 2020June 15, 2020July 15, 2020)
(May 10, 2020June 15, 2020July 15, 2020)
(May 10, 2020June 15, 2020July 15, 2020)
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