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On May 10, 2025, Crane Co enters into a contract to deliver a product to...

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Accounting

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On May 10, 2025, Crane Co enters into a contract to deliver a product to Ivanhoe inc on June 15. 2025. Ivanhoe agr ees to par the full contract prike of $1.840 on Julv 15.2025. The cost of the eoods is $1.060. Crane deliven the product to lvarhoe on June 15.2025. indreceives poyment on July 15.2025 . Prepave the journal entries for Crane related to this contract, Eitherparty many terninate the contract without compensation until one of the parties performs, (Credit occount tliles are automaticallv indented when the amount is

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