On January $1,2020,$ Carly Fashions Inc. enters into a contract with a regional retail company to provide $500$ blouses for $$20,000$ over the next $10$ months. On September $1,2020,$ after $400$ of the blouses had been delivered $(50$ blouses per month$),$ the contract is modified.

Required:

a$.$ Fifty blouses were delivered each month for the first $8$ months of $2020.$ Prepare Carly Fashions$$s monthly journal entry to record revenue. For grading purposes use August $31$ to date the entry that would be made each month.

b$.$ Assume that the contract is modified on September $1$ to sell, once the original $500$ blouses are delivered, an additional $100$ blouses at $$35$ per blouse, which is the stand$-$alone selling price on October $1,2020.$ The additional blouses are to be delivered in November. Prepare the November journal entry to record the contract modification. For grading purposes use November $30$ to date the entry.

c$.$ Assume instead that the contract is modified on September $1$ to alter the price of the additional $100$ blouses to $$35$ per blouse, which is the stand$-$alone selling price on October $1,2020.$ Assume the blouses are delivered evenly on September $1$ and October $1,2020.$ Prepare the journal entries for September and October to record this contract modification for September $1$ and October $1.$a$.$ Fifty blouses were delivered each month for the first $8$ months of $2020.$ Prepare Carly Fashions's monthly journal entry to record

revenue. For grading purposes use August $31$ to date the entry that would be made each month.

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GENERAL JOURNAL

b$.$ Assume that the contract is modified on September $1$ to sell, once the original $500$ blouses are delivered, an additional $100$

blouses at $$35$ per blouse, which is the stand$-$alone selling price on October $1,2020.$ The additional blouses are to be delivered in

November. Prepare the November journal entry to record the contract modification. For grading purposes use November $30$ to date

the entry.

c$.$ Assume instead that the contract is modified on September $1$ to alter the price of the additional $100$ blouses to $$35$ per blouse,

which is the stand$-$alone selling price on October $1,2020.$ Assume the blouses are delivered evenly on September $1$ and October $1,$

Prepare the journal entries for September and October to record this contract modification for September $1$ and October $1.$