On May $3,20$xx$,$ Surf Shop receives a shipment from Chili for all items on PO #$6798($the same PO mentioned in the previous question$).$ Items were received in good condition into the warehouse. Along with the shipment, Surf Shop also received vendor invoice #$1234$ for $$12,500.$ Surf Shop$$s accountant reviews the invoice and other documentation and initials the invoice, but the accountant does not yet pay the vendor.

Should Surf Shop record a journal entry on May $3,20$xx when it receives the goods and the vendor invoice? $\_\_\_\_\_\_($yes$,$ no$)$

If you answered $$yes$,$ then write the complete journal entry $($either the SJ$,$ the PJ$,$ or the CDJ$).($If you answered $$no$$ in part a$,$ then skip this part.$)$

If you answered $$no$,$ explain why there is no journal entry to record at this time, in the space below. $($If you answered $$yes$$ to part a$,$ then skip this part.$)$