Sandhill Ranch & Teal is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing, grain dryers, and barn winches. Most products are sold direct via its company catalog and Internet site. However, given some of its specialty products, select farm implement stores carry Sandhills products. Pricing and cost information on three of Sandhills most popular products are as follows.

Item		Standalone Selling Price (Cost)
Mini-trencher		$ 3,900	($2,000	)
Power fence hole auger		1,400	(800	)
Grain/hay dryer		13,400	(11,800	)

Sandhill sells three grain/hay dryers to a local farmer at a total contract price of $43,400. In addition to the dryers, Sandhill provides installation, which has a standalone selling price of $1,000 per unit installed. The contract payment also includes a $1,100 maintenance plan for the dryers for 3 years after installation. Sandhill signs the contract on June 20, 2017, and receives a 20% down payment from the farmer. The dryers are delivered and installed on October 1, 2017, and full payment is made to Sandhill. Prepare the journal entries for Sandhill in 2017 related to this arrangement.