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Given uncertainty of finding skilled labor, Concord is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Concord in 2020. (Credit account titles are outomatically 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.) (To record sales) (To record cost of goods sold) (To record payment received) Concord Windows manufactures and sells custom storm windows for three-season porches. Concord 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. Concord enters into the following contract on July 1,2020, with a local homeowner. The customer purchases windows for a price of $2.490 and chooses Concord to do the installation. Concord charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Concord $1,950 (which equals the standalone selling price of the windows, which have a cost of $1,110 ) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1,2020. Concord completes installation on October 15,2020 , and the customer pays the balance due

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