Question: Carlisle Refrigerator Company sells professional - grade refrigerators on a standalone basis. Carlisle also sells installation services and maintenance services for the refrigerators. When maintenance
Carlisle Refrigerator Company sells professionalgrade refrigerators on a standalone basis. Carlisle also sells installation services and maintenance services for the refrigerators. When maintenance services are provided, the maintenance service is separately priced within the arrangement at $ for three years, which approximates the amount charged by independent third parties. On March a customer purchased a refrigerator, including maintenance and installation, for $ The refrigerator purchased alone would have cost the customer $ If the installation had been done by an outside party, they would have charged $ The customer pays cash on March but asks to have the oven delivered on on May At that time, it is successfully installed. The maintenance contract covers three years from the installation date. Required: Prepare the journal entries that Carlisle will make in March and May regarding this transaction. Show all computations. pleaseeee show all work
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