On May 10, 2025, Pharoah Co. enters into a contract to deliver a product to Sunland Inc. on June 15, 2025. Sunland agrees to pay the full contract price of $2,080 on July 15, 2025. The cost of the goods is $1,330. Pharoah delivers the product to Sunland on June 15, 2025, and receives payment on July 15, 2025. Prepare the journal entries for Pharoah 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 O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record sales) (To record cost of goods sold) Debit Credit C