record transaction

Clarences Clown College (C³), purchased 10 mini clown cars from P³ paying $12,000 up front and will pay the remaining $46,000 one month after the cars are delivered. Clarence is building a new warehouse facility and is unable to take the cars at the moment. P³ is going to hold the cars for three months and deliver them on December 1 to Clarence. The cars have been identified and set aside for Clarence.