Vaughn Windows manufactures and sells custom storm windows for three$-$season porches. Vaughn 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. Vaughn enters into the following contract on July $1,2020,$ with a local homeowner. The customer purchases windows for a price of $$2,340$ and chooses Vaughn to do the installation. Vaughn charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Vaughn $$2,100($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 $1,2020,$ Vaughn completes installation on October $15,2020,$ and the customer pays the balance due.

$($a$)$

Vaughn estimates the standalone selling price of the installation based on an estimated cost of $$420$ plus a margin of $30\%$ on cost$.$

Prepare the journal entries for Vaughn 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 $0$ for the amounts. Round answer to $0$ decimal places, e$.$g$.5,125.)$

Date

Account Titles and Explanation

Debit

Credit

$($To record contract entered into$)$

$($To record sales$)$

$($To record cost of goods sold$)$

$($To record payment received$)$