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  3. on july 8, azure corporation enters into an agreem

On July 8, Azure Corporation enters into an agreement with one of its customers, Madsen,...

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Accounting

On July 8, Azure Corporation enters into an agreement with one of its customers, Madsen, Inc. to provide them with 3,000 units at a cost of $500 per unit. Madsen sends a cash deposit of $150,000 on the same
day. Azure sends the first 1,800 units on August 31, with an invoice for $450,000 due September 15. The remaining 1,200 units are delivered on October 15, along with an invoice for the remaining amount of the
otal $1,500,000 purchase price, due October 31. Madsen made all payments on the invoice due dates.
Assume that Azure Corporation had no uncertainties about its own ability to meet the terms of the agreement or about Madsen, Inc.'s ability and willingness to pay. Report the events described above in the
inancial statement effects template (leaving out the accounting for Azure's costs).
Note: Use negative signs with your answers, when appropriate.
Note: Select "N/A" as your answer if a part of the accounting equation is not affected.
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