Question: In September 2 0 2 5 , Crane Corp. commits to selling 1 5 2 of its iPhone - compatible docking stations to Waterway Co

In September 2025, Crane Corp. commits to selling 152 of its iPhone-compatible docking stations to Waterway Co. for $13,984($92 per product). The stations are delivered to Waterway over the next 6 months. After 94 stations are delivered, the contract is modified and Crane promises to deliver an additional 42 products for an additional $3,654( $87 per station). All sales are cash on delivery.
(a)
Your answer is correct.
Prepare the journal entry for Crane for the sale of the first 94 stations. The cost of each station is $53.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.)
Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g.1,525.25. List all debit entries before credit entries.)
Account Titles and Explanation
(To record sales)
q,
(To record cost of goods sold)
In September 2 0 2 5 , Crane Corp. commits to

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!