On December 31, 2020, Wildhorse Inc. rendered services to Beghun Corporation at an agreed price of $106,131, accepting $41,600 down and agreeing to accept the balance in four equal installments of $20,800 receivable each December 31. An assumed interest rate of 11% is imputed. Required:Provide the journal entries for the first 2 years of the installments.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)