Question: solve them all by typing will be clear & thankyou Exercise 1 (35 points) On February 1, 2019, Madison Inc. entered into a contract to

solve them all by typing will be clear & thankyou

Exercise 1 (35 points) On February 1, 2019, Madison Inc. entered into a contract to deliver one of its specialty machinery to Pick Co. The contract requires Pick to pay the contract price of 910 in advance on February 15, 2019. Pick pays Madison on February 15, 2019, and Madison delivers the machinery (with cost of 675) on February 31, 2019. Instructions a. Prepare the journal entry on February 1, 2019, for Madison (5 pts). b. Prepare the journal entry on February 15, 2019, for Madison (10 pts). c. Prepare the journal entry on February 31, 2019, for Madison (20 pts)

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