Sarjit Systems sold software to a customer for $155,000. As part of the contract, Sarjit promises...
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Sarjit Systems sold software to a customer for $155,000. As part of the contract, Sarjit promises to provide "free" technical support over the next six months. Sarjit sells the same software without technical support for $135,000 and a stand-alone six- month technical support contract for $45,000, so these products would sell for $180,000 if sold separately. Prepare Sarjit's journal entry to record the sale of the software. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 Record the sale of software for cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal Sarjit Systems sold software to a customer for $155,000. As part of the contract, Sarjit promises to provide "free" technical support over the next six months. Sarjit sells the same software without technical support for $135,000 and a stand-alone six- month technical support contract for $45,000, so these products would sell for $180,000 if sold separately. Prepare Sarjit's journal entry to record the sale of the software. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 Record the sale of software for cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal
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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date:
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