TreeHold Corp. designs and builds custom harvesting equipment for logging companies across Canada. The company, which is publicly traded, has a May 31 year end. On February 18, 2020, TreeHold signed a contract with Coastal Harvesting Ltd. to design and build 25 custom harvesters that can harvest wood at the steep grades found along much of the Pacific coast timber stands included in Coastals harvesting leases. The following events took place in 2020 in relation to the contract:

1.		February 18: Officials from TreeHold and Coastal sign the contract. The contract was for $4,079,000. TreeHold is to design, manufacture, and deliver the 25 machines to Coastals operations centre in Duncan, British Columbia. TreeHolds management estimates that the design component of the contract would be valued at $525,564 if contracted for separately, while the machine construction component of the contract would be valued at $3,966,436 if the machines were purchased separately. TreeHold agrees to provide a three-year assurance-type warranty for the machines, and the companys management estimates that the warranty claims would total $240,000 based on past experience. Coastal agrees to pay a $1,305,000 deposit within 10 days of signing the contract and to pay the balance within 15 days of the equipment being delivered.
2.		February 25: Coastal pays the deposit specified in the contract.
3.		March 28: TreeHolds engineering staff complete the equipment design and it is approved by officials from Coastal.
4.		May 18: TreeHold completes construction of the 25 harvesters.
5.		May 20: The 25 harvesters are loaded onto TreeHolds trucks and are delivered to Coastals operation centre in Duncan later that day.
6.		June 2: Coastal pays the balance owing on the contract.

Determine when and how much revenue TreeHold would be able to recognize for the year ended May 31, 2020. (Round allocation percentage to 1 decimal place, e.g. 15.2% and final answers to 0 decimal places, e.g. 125.) (2 dates)

Prepare TreeHolds required journal entries for all of the dates appearing above along with any other necessary journal entries for the contract based on your analysis in part a. (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 of accounts:

• Accounts Receivable
• Administration Expenses
• Advertising Expense
• Architectural Activities
• Cash
• Cost of Goods Sold
• Depreciation Expense
• Distribution Expenses
• Dividend Revenue
• Engineering Expenses
• Financing Expenses
• Income Tax Expense
• Insurance Expense
• Interest Expense
• Interest Revenue
• Inventory
• No Entry
• Other Expenses
• Refund Liability
• Rent Expense
• Rent Revenue
• Research and Development Expenses
• Sales and Marketing Expenses
• Sales Revenue
• Selling Expenses
• Service Revenue
• Subscription Revenue
• Supplies Expense
• Unearned Revenue
• Utilities Expense
• Wages Expense
• Warranty Expense
• Warranty Liability