Question: On June 1 st , 2 0 2 3 , Mills Company sells $ 2 0 0 , 0 0 0 of shelving units to

On June

1

, 2023,

Mills Company sells $

200, 000

of shelving units to a local retailer. ShopBarb, which is planning to expand its stores in the area. Under the agreement, ShopBarb asks Mills to obtain the shelving units in its factory until the new shores are ready for installation. Title passes to ShopBarb at the time the agreement is signed. The shelving units are delivered to the stores on Sept

1

, 2023

and ShopBarb pays in full. Prepare the journal entries for the the bill and hold arrangement for Mills on June

1

st and Sept

1

, 2023 .

The cost of the shelving units to Mills is $

110, 000

On June 1 st , 2 0 2 3 , Mills Company sells $ 2

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