On December 12, 2016, Pace Electronics received $29,800 from a customer toward a cash sale of $298,000 of diodes to be completed on January 16, 2017.

What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

CHOOSE FROM THE LIST BELOW TO JOURNALIZE THE ENTRIES

No journal entry required

Accounts receivable

Allowance for uncollectible accounts

Bad debt expense

Bonds payable

Cash

Cost of goods sold

Deferred rent revenue

Deferred sales revenue

Discount on notes payable

Estimated warranty liability

Interest expense

Interest payable

Interest receivable

Interest revenue

Notes payable

Notes receivable

Rent revenue

Salaries and wages expense

Salaries and wages payable

Sales revenue

Warranty expense

1. Record the appropriate entry on December 12.

2. Record the appropriate entry on January 16.