Respond to the requirements related to the following independent revenue arrangements for Crane products and services. (a) Your answer has been saved. See score details after the due date. Crane offers contract MG100 which is comprised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price of $1,200. On a standalone basis, the grill sells for $1,300 (cost $450), and Crane estimates that the fair value of the installation service (based on cost-plus estimation) is $200. Crane signed 15 MG100 contracts on May 30, 2024, and customers paid the contract price in cash. The grills were delivered and installed on June 15, 2024. Prepare journal entries for Crane for MG100 in May and June 2024. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles and Explanation Crane sells its specialty combination gas/wood-fired grills to local restaurants. Each grill is sold for $1,350 (cost $650) on credit with terms 3/20, net/60. Prepare the journal entries for the sale of 20 grills on August 1, 2024, and upon payment, assuming the customer paid on (1) August 20, 2024, and (2) September 29, 2024. Assume the company records sales net. (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.) te : Account Titles and Explanation Accounts Receivable Sales Revenue (To record sales on account) Cost of Goods Sold Inventory (To record the cost of goods sold) Cash Accounts Receivable (To record cash collected) Question 1 of 10 < > Debit Credit 124 Accounts Receivable Sales Revenue (To record sales on account) 124 : Cost of Goods Sold Inventory (To record the cost of goods sold) Cash Accounts Receivable Sales Discounts Forfeited .../10