Wildhorse Company sells goods that cost $439,500 to Cato Company for $571,500 on January 2, 2025 on account. The sales price includes an installation fee, which is valued at $58,500. The fair value of the goods is $513,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. (a) Prepare the journal entries (if any) to record the sale on January 2, 2025. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation Jan. 2, 2025 Debit Credit

Wildhorse Company sells goods that cost $439,500 to Cato Company for $571,500 on January 2.2025 on account. The sales price includes an installation fee, which is valued at $58,500. The fair value of the goods is $513,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete, (a) Prepare the journalentries (if any) to record the sale on January 2, 2025. (List all debit entries before credit entries. 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 O for the amounts