A company. manufactures and sells commercial appliances. It also provides installation and maintenance services. In 2021,  it sold appliances to Away Inc. at $1,000, and Away Inc. chose it  to do the installation. The fair values of the installation and appliances are estimated to be $200 and $900, respectively. Upon delivery of the product on June 1, Away Inc. paid $800. The remainder was paid in full on July 1 when Home Inc. completed installation. What is the amount of sales revenue that should be recorded on June 1?

Answer rating: 100% (QA)

The standalone selling prices are as follows Appliances 900 Installation 200 The ... View the full answer