Meyer & Smith is a full-service technology company. They provide equipment, installation services as well as...
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Meyer & Smith is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Container Corporation purchased computer equipment, installation and training for a total cost of €144,000 on March 15, 2018. Estimated standalone fair values of the equipment, installation and training are €90,000, €60,000 and €30,000 respectively. The journal entry to record the transaction on March 15, 2018 will include a credit to Sales Revenue for €144,000. debit to Unearned Service Revenue of €30,000. O credit to Unearned Service Revenue of €24,000. credit to Service Revenue of €60,000. Meyer & Smith is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Container Corporation purchased computer equipment, installation and training for a total cost of €144,000 on March 15, 2018. Estimated standalone fair values of the equipment, installation and training are €90,000, €60,000 and €30,000 respectively. The journal entry to record the transaction on March 15, 2018 will include a credit to Sales Revenue for €144,000. debit to Unearned Service Revenue of €30,000. O credit to Unearned Service Revenue of €24,000. credit to Service Revenue of €60,000.
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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