The Company sells a customer roofing, siding, and windows. The total sales price is $35,000: $20,000 for the roof, $10,000 for the siding, and $5,000 for the windows. The estimate is signed by the customer on August 25th, and work begins on August 28th. The roof is completed on August 30th, the siding is completed on September 10th, and the windows are done on September 14th. The Company’s policy is to collect half of the funds up front and invoice and collect the remainder when the job is completed. The Company collected $17,500 from the customer on August 25th. In order to close the books on a GAAP basis for August, what are the journal entries needed related to this transaction?