Business, 13.10.2021 23:40 TACOSDAILY

On July 18, 2017, Bridgeport Company enters into a contract to deliver a product to Burg Corporation on September 1, 2017. Burg agrees to pay the full contract price of $ 4,500 on September 15, 2017. The cost of the goods is $ 3,010. Bridgeport delivers the product to Burg on September 1, 2017, and receives payment on September 15, 2017. Prepare the journal entries for Bridgeport related to this contract. Either party may terminate the contract without compensation until one of the parties performs.

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On July 18, 2017, Bridgeport Company enters into a contract to deliver a product to Burg Corporation...

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