Question: SecureTech Solutions ( STS ) provides advanced security solutions to large corporations, including smart surveillance systems for buildings ( with cameras and biometric entry )
SecureTech Solutions STS provides advanced security solutions to large corporations, including smart surveillance systems for buildings with cameras and biometric entry perimeter security barriers both physical and electronic and an optional hour cybersecurity monitoring service. These solutions can be purchased individually or as a package. The surveillance systems and barriers are sold as completed items installation included while the monitoring service includes three years of monitoring by STSs security operations center, which alerts businesses if a cyber threat is detected and takes necessary actions. Each sales order is customized to the customer's needs. On August STS sold a security solution to Metro Industries for $ with payment due on October The solution included a smart surveillance system, barriers for a warehouse, and the hour cybersecurity monitoring service. Installation and activation were completed on October If purchased separately, the prices would have been:
Smart surveillance system: $
Barriers: $
Cybersecurity monitoring: $
STS received payment on October
Required:
Provide the journal entries for STS related to this sale for the year assuming a December yearend. Assume all cost of goods sold entries have already been made. Round all entries to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
