Sweet Windows manufactures and sells custom storm windows for three-season porches. Sweet also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Sweet enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,300 and chooses Sweet to do the installation. Sweet charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Sweet $2,080 (which equals the standalone selling price of the windows, which have a cost of $1,160) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Sweet completes installation on October 15, 2020, and the customer pays the balance due.

Sweet estimates the standalone selling price of the installation based on an estimated cost of $440 plus a margin of 20% on cost. Prepare the journal entries for Sweet in 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 for the amounts. Round answer to O decimal places, e.g. 5,125.) late Account Titles and Explanation Debit Credit 120 No Entry 0 No Entry 0 (To record contract entered into) 2020 Cash 2080 Accounts Receivable 220 Unearned Service Revenue 466 Sales Revenue 1834 (To record sales) Cost of Goods Sold 1160 Inventory 1160 (To record cost of goods sold) 5, 2020 Cash 220 Unearned Service Revenue 466 Service Revenue 466 Accounts Receivable 220 (To record payment received) Given uncertainty of finding skilled labor, Sweet is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Sweet in 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 for the amounts.) Date Account Titles and Explanation Debit Credit p. 1, 2020 Cash Accounts Receivable Unearned Service Revenue Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) ct. 15, 2020 Cash Unearned Service Revenue Service Revenue Accounts Receivable (To record payment received)