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AveGali [126]
3 years ago
9

Sarasota Company sells on credits goods that cost $310,000 to Ricard Company for $409,500 on January 2, 2020. The sales price in

cludes an installation fee, which has a standalone selling price of $42,500. The standalone selling price of the goods is $367,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. (a) Prepare the journal entries (if any) to record the sale on January 2, 2020
Business
1 answer:
swat323 years ago
7 0

Answer and Explanation:

The journal entries are shown below:

Account Receivable $409,500

           To Sales Revenue $367,000

           To Unearned Service Revenue $42,500

(Being account receivable is recorded)

Cost of Goods Sold $310,000

           To Merchandised Inventory $310,000

(Being cost of goods sold is recorded)  

These two journal entries are to be recorded

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Answer:

The measure of occupational prestige is determined through the process in which a nationwide sample of people is asked to evaluate a series of different jobs.

Explanation:

Occupational prestige is also known as job prestige. It is a way used by sociologists to define the social position or standing of people based on their occupation. Rather than using the personal attributes of individuals, it ranks people according to their profession or occupation. The ranks lie from 0 to 100, with 0 being lowest score and 100 the highest. These ranks are alloted to different professions by conducting nationwide surveys.

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3 years ago
The Tucker family has health insurance coverage that pays 80 percent of out-of-hospital expenses after a deductible of $1,000 pe
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30 because I don’t know what if I got it back in there at least you know
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2 years ago
Assume oil prices rise in the United States, generating concerns that inflation may increase. If the Fed wishes to ensure that i
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If the Fed wishes to ensure that inflation does not get out of hand, the Fed could lower the <em>target money supply growth rate</em>.

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There are two types of monetary policy :

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7 0
2 years ago
The primary benefit of a MINIMAX objective function is
sladkih [1.3K]

Answer:

The correct answer is letter "C": it yields a larger variety of solutions than generally available using an LP method.

Explanation:

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3 years ago
Refries Refrigerator Company manufactures ice-makers for installation in refrigerators. The costs per unit for 20,000 units of i
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Answer:

c. $600,000 vs. $528,000.

Explanation:

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Total relevant cost of making the product is

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= ($34 - $4 ) × 20,000 units

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