On May 1, 2025, King Inc. entered into a contract to deliver one of its specialty...

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On May 1, 2025, King Inc. entered into a contract to deliver one of its specialty mowers to Crane Landscaping Co. The contract requires Crane to pay the contract price of $816 in advance on May 15, 2025. Crane pays King on May 15, 2025, and King delivers the mower (with cost of $504) on May 31, 2025. (a) Prepare the journal entry on May 1, 2025, for King. (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 O for the amounts. List debit entry before credit entry.) (b) Date May 1, 2025 Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above. On May 1, 2025, King Inc. entered into a contract to deliver one of its specialty mowers to Crane Landscaping Co. The contract requires Crane to pay the contract price of $816 in advance on May 15, 2025. Crane pays King on May 15, 2025, and King delivers the mower (with cost of $504) on May 31, 2025. (a) Prepare the journal entry on May 1, 2025, for King. (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 O for the amounts. List debit entry before credit entry.) (b) Date May 1, 2025 Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above.