Sunland Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on Sunlands main products are as follows.

Item		Stand-Alone Selling Price (Cost)
Refrigerator		$500 ($250)
Range		$570 ($285)
Stackable washer/dryer unit		$650 ($450)

Customers can contract a purchase either individually at the stated prices or for a three-item bundle with a price of $1,760. The bundle price includes delivery and installation. Sunland provides delivery and installation as a stand-alone service for any of its products for $70. The company follows IFRS. Respond to the requirements related to the following independent revenue arrangements for Sunland Appliance Co.

On June 1, 2020, Sunland sold 70 washer/dryer units without installation to Laplante Rentals for $45,500 (on credit). Laplante is a newer customer and is unsure of how this product will work in its older rental units. Sunland offers a 60-day return privilege and estimates, based on prior experience with sales of this product, that 3% of the units will be returned. Prepare the journal entries for the sale and related cost of goods sold on June 1, 2020. (Credit account titles are automatically indented when the 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.)

Date	Account Titles and Explanation	Debit	Credit
June 1, 2020
	(To record sale on account)
June 1, 2020
	(To record cost of goods sold)

eTextbook and Media

List of Accounts

YellowCard Property Managers operates upscale student apartment buildings. On May 1, 2020, Sunland signs a contract with YellowCard for 300 appliance bundles to be delivered and installed in one of its new buildings. YellowCard pays 20% cash at contract signing and will pay the balance upon delivery and installation no later than August 1, 2020. Prepare journal entries for Sunland on May 1, 2020, and August 1, 2020, when all appliances are delivered and installed. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
May 1, 2020August 1, 2020
May 1, 2020August 1, 2020
	(To record sales)
May 1, 2020August 1, 2020
	(To record cost of goods sold)

eTextbook and Media

List of Accounts

Refer to the arrangement in part (b). It would help YellowCard secure lease agreements with students if the delivery and installation of the appliance bundles can be completed by July 1, 2020. YellowCard offers a 10% bonus payment if Sunland can complete delivery and installation by July 1, 2020. Sunland estimates its chances of meeting the bonus deadline to be 60%, based on a number of prior contracts of similar scale. Repeat the requirement for part (b), given this bonus provision. Assume installation is completed by July 1, 2020. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
May 1, 2020July 1, 2020
May 1, 2020July 1, 2020
	(To record sales)
May 1, 2020July 1, 2020
	(To record cost of goods sold)

eTextbook and Media

List of Accounts

Epic Rentals would like to take advantage of the bundle price for its 415-unit project. On February 1, 2020, Sunland signs a contract with Epic for delivery and installation of 415 bundles. Under the agreement, Sunland will hold the appliance bundles in its warehouses until the new rental units are ready for installation. Epic pays 10% cash at contract signing. On April 1, 2020, Sunland completes manufacture of the appliances in the Epic bundle order and places them in the warehouse. Sunland and Epic have documented the warehouse arrangement and identified the units designated for Epic. The units are ready to ship, and Sunland may not sell these units to other customers. Prepare journal entries for Sunland on February 1, 2020, and April 1, 2020. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
February 1, 2020April 1, 2020
February 1, 2020April 1, 2020
	(To record sales)
February 1, 2020April 1, 2020
	(To record cost of goods sold)