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On May 10, 2020, Wildhorse Co. enters into a contract to deliver a product to Windsor...

On May 10, 2020, Wildhorse Co. enters into a contract to deliver a product to Windsor Inc. on June 15, 2020. Windsor agrees to pay the full price of $2,150 on July 15, 2020. The cost of goods is $1,390. Wildhorse delivers the product to Windsor on June 15, 2020, and receives payment on July 15, 2020. Prepare the journal entries for Wildhorse on May 10, June 15, and July 15 related to this contract.

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