Question 16 (6 points) On December 1, 2017, Barleycorn entered into a contract to buy a $78,000 baler from Rane Deere Corp. The contract required Barleycorn to pay $78,000 in advance on December 1, 2017. The baler (cost of $52,000) was delivered on January 31, 2018. a. Prepare the journal entry to record the contract on December 1, 2017. [3 points) b. Prepare all necessary journal entries to record the delivery of the equipment. [3 points)