Question: On October 10, 2019, Executor SpA entered into a contract with Belisle Inc. to transfer Executor's specialty products (sales value of 10,000, cost of 6,500)

On October 10, 2019, Executor SpA entered into a contract with Belisle Inc. to transfer Executor's specialty products (sales value of €10,000, cost of €6,500) on December 15, 2019. Belisle agrees to make a payment of €5,000 upon delivery and signs a promissory note to pay the remaining balance on January 15, 2020. What entries does Executor make in 2019 on this contract? Ignore time value of money considerations.

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