Orange Inc. is a cellphone manufacturer and service provider. On Nov 1st, 2019, they sell 1000 O-bundles to consumers for $800 each and receive cash from consumers. Each O-bundle contain one O-phone, a 6 month subscription for the Orange-net cell-phone service, and a packet of orange candy. O-phones retail for $750, Orange-net service retails for $25 a month, and the orange candy retails for $5 a pack. Each O-phone costs $400 to manufacture, while each orange candy pack was purchased from a manufacturer for $1.50 including freight costs.

Provide the transactional journal entries for Nov 1st, 2019 and adjusting entries for Dec 31st 2019.

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