On December $1,2024$ Tomato sends $100$ FertPhones to the retail store BetterBuy. BetterBuy sells the phones to consumers and returns the proceeds less $$150$ per phone to Tomato. In the sales agreement Tomato promises to pay a bonus of $$50$ per phone if they call sell at least $85\%$ of the phones by April $1,2025.$ BetterBuy estimates the probability of selling $85\%$ of the phones by the required date to be $80\%$ likely. BetterBuy sells the phones for $$800$ each.

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$1.$ BetterBuy actually sells $62$ phones by the end of $2024.$ Record BetterBuy's journal entry to record the sales:

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$2.$ Record the journal entry for the payment to Tomato Inc.:

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$3.$BetterBuy sells $18$ phones additional phones before April $1.$ Record the journal entry to record the sales:

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$4.$Record the journal entry on April $1$ for the payment to Tomato Inc. net of the bonus:

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$5.$ Record the journal entry for sale of the remaining $20$ phones during $2025.$

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Debit$/$ credit : cash, bonus receivable, sale revenue, payable