Pronghorn Mowers Ltd. has agreed to sell four riding mowers and 20 walk-behind mowers to the City of Halifax. The contract price was $64,800. Pronghorn typically sells its mowers for $12,960 and its push mowers for $864. The contract required the City of Halifax to pay Pronghorn once all merchandise had been delivered to the city's public works yard. Pronghorn management does not expect any returns or problems with payment.

Pronghorn delivered the four riding mowers and 14 of the walk-behind mowers on April 26. The remaining six push mowers were delivered on May 5. Pronghorn received payment from the city on May 18. Pronghorn's cost for each mower is $8,964, while the push mowers cost the company $560 each.

Record the April and May transactions in Pronghorn's records assuming the company uses a perpetual inventory system.

Date	Account titles and explanation	Debit	Credit
April 26 May 5 May 18
	(To record sales)
April 26 May 5 May 18
	(To record cost of goods sold)
April 26 May 5 May 18
	(To record sales)
April 26 May 5 May 18
	(To record cost of goods sold)
April 26 May 5 May 18

Answer rating: 100% (QA)

Date Account titles and explanation Debit Credit April 26 Accounts Receivable 51840 April 26 Sales R... View the full answer