XYZ made a number of sales in 2014 and 2015 that required use of the instalment method. The following information regarding the sales is available:

Instalment Sales	150000	160000
Cost Of Instalment Sales	115500	104000
Collections on 2014 Sales	40000	70000
Collections on 2015 Sales		30000

Give the journal entries relating to instalment sales for the years 2014 and 2015. Ignore interest charges. Please make sure your final answer(s) are accurate to 2 decimal places. Assume that all entries are made on December 31. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan).