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Sheridan Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on Sheridan's main products are as follows. Customers can contract a purchase either individually at the stated prices or for a three-item bundle with a price of $2,000. The bundle price includes delivery and installation. Sheridan provides delivery and installation as a stand-alone service for any of its products for $70. The company follows IFRS. Respond to the requirements related to the following independent revenue arrangements for Sheridan. Wildhorse Property Managers operates upscale student apartment buildings. On May 1, 2023, Sheridan signs a contract with Wildhorse for 250 appliance bundles to be delivered and installed in one of its new buildings. Wildhorse pays 20% cash at contract signing and will pay the balance on delivery and installation, no later than August 1, 2023. Prepare joumal entries for Sheridan on May 1, 2023, and August 1, 2023, when all appliances are delivered and installed. (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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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