Current Attempt in Progress

On May $10,2025,$ Wildhorse Co$.$ enters into a contract to deliver a product to Crane Inc. on June $15,2025.$ Crane agrees to pay the full contract price of $\backslash (\backslash$$ $2,120\backslash )$ on July $15,2025.$ The cost of the goods is $\backslash (\backslash$$ $1,490\backslash ).$ Wildhorse delivers the product to Crane on June $15,2025,$ and receives payment on July $15,2025.$ Prepare the journal entries for Wildhorse related to this contract. Either party may terminate the contract without compensation until one of the parties performs. $($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 $0$ for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

$($To record sales$)$

$[$

$($To record cost of goods sold$)$