Please only answer when you have the correct answer to the question. If your answer is incorrect or irrelevant, I will report to chegg and leave a thumb down. Thank you! Maypole Industries imports goods from Taiwan and resells them to domestic Canadian markets. Maypole uses a perpetual inventory system. A typical transaction stream follows:

18	July	Purchased goods for $460,000.
24	August	Goods repackaged and ready for sale. Cost incurred, $60,400.
10	September	Goods delivered to customer. Agreed-on price, $716,800.
22	November	Customer paid.

Required: 1. Prepare journal entries assuming that the revenue is recognised the following critical events: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1-a. Delivery to customer. Record the purchase of goods.

1. Record the repackaging of good.
2. Record the delivery of goods.
3. Record the change in inventory.
4. Record the payment received.

1-b. Cash receipt.

1. Record the purchase of goods.
2. Record the repackaging of good.
3. Record the delivery of goods.
4. Record the payment received.
5. Record the deferred gross margin.

1-c. Preparation of goods for resale.

1. Record the purchase of goods.
2. Record the repackaging of good.
3. Record the sale and change in inventory.
4. Record the payment received.