Wildhorse Company is presently testing a number of new agricultural seed planters that it has recently developed. To stimulate interest, it has decided to grant to five of its largest customers the unconditional right of return to these products if not fully satisfied. The right of return extends for 4 months. Wildhorse estimates returns of 10%. Wildhorse sells these planters on account for $1,510,000 (cost $755,000) on January 2, 2020. Customers are required to pay the full amount due by March 15, 2020. (a) Prepare the journal entry for Wildhorse at January 2, 2020. (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 O for the amounts.) Date Account Titles and Explanation Jan. 2, 2020 (To recognize revenue.) (To record cost of goods sold.) eTextbook and Media Debit Credit