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 Crane Corp. commits to selling of its iPhonecompatible docking stations to Waterway Co for $$ per product The stations are delivered to Waterway over the next months. After stations are delivered, the contract is modified and Crane promises to deliver an additional products for an additional $ $ 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 stations. The cost of each station is $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 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 for the amounts. Round answers to decimal places, eg List all debit entries before credit entries.
Account Titles and Explanation
To record sales
To record cost of goods sold
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