Drew Corporation ordered an EDM machine tool from Hansvedt Industries in October 2017 pursuant to a written

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Drew Corporation ordered an EDM machine tool from Hansvedt Industries in October 2017 pursuant to a written contract for a total contract price of $58,000. Include in this price was 3 years of maintenance and support whereby Hansvedt would fix any software or hardware problems within 48 hours at no cost. Hansvedt provides this support to companies with other EDM machines for $500 per year. The machine tool was delivered in November 2017 and installed in December 2017, and acceped by Drew Corp in January 2018.

Facts
Machine Tool Cost
Maintenance Cost
Transaction Price

Partial Balance Sheet	Oct 17	Nov 17	Dec 17	Jan 18	2018	2019	2020	Total
Assets:
Cash

Liabilities:
Deferred Revenues

Retained Earnings
Net Income

Partial Income St	Oct 17	Nov 17	Dec 17	Jan 18	2018	2019	2020	Total
Product Revenue
Support Revenue
Total Revenue

Related Book For answer-question

answer-question

Smith and Roberson Business Law

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Dec 18, 2022 07:35 AM

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