Question 3 based on the Information above

Provide a concise, complete answer for each question. Assume that the fiscal year end for Hawkeye Inc. is December 31st, and that Hawkeye recognizes revenue only after the products have been delivered to the customer. 1. Hawkeye purchases bandanas for $2.00 a bandana and sells them for $4.00 a bandana. On August 1, 20X1, a customer paid (in cash) one-half of the purchase price for 5,000 bandanas (# of units) to be delivered on September 1 and October 1 (2,500 bandanas delivered on each date). The customer paid the remainder of the bill (in cash) on October 1. NOTE: Question 1 contains parts a-e below. D Question 3 4 pts a. Provide the journal entry(ies) Hawkeye made on August 1, 20X1. (4 points)