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please help fill out the red parts with the right answers. thank you Current Attempt in Progress Pharoah Sleeper Ltd. manufactures and sells mattresses to
please help fill out the red parts with the right answers. thank you
Current Attempt in Progress Pharoah Sleeper Ltd. manufactures and sells mattresses to retailers across Canada. In 2024, Pharoah Sleeper signed a two-year contract with Sunland Ltd. to supply it with 41,500 mattresses at a price of $97 per unit. Pharoah Sleeper's cost to manufacture a mattress is $26. Pharoah Sleeper provides Sunland with 30-day credit terms from the date of delivery. The following schedule summarizes the production, delivery, and payments in relation to the contract: Prepare the required summary journal entries for the contract based on your analysis in part (a). (Credit account titles are automatically indented when 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. List all debit entries before credit entries.) (To record collections) 2025 Accounts Receivable Sales Revenue (To record sales revenue) Cost of Goods Sold Inventory 673400 (To record cost of goods sold) No Entry No Entry (To record collections) Step by Step Solution
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