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0.94/1 In September 2020, Buffalo Corp. commits to selling 147 of its iPhone-compatible docking stations to Better Buy Co. for $14,259 ($97 per product). The
0.94/1 In September 2020, Buffalo Corp. commits to selling 147 of its iPhone-compatible docking stations to Better Buy Co. for $14,259 ($97 per product). The stations are delivered to Better Buy over the next 6 months. After 95 stations are delivered, the contract is modified and Buffalo promises to deliver an additional 42 products for an additional $3,864 ($92 per station). All sales are cash on delivery. (a) Your answer is correct Prepare the journal entry for Buffalo for the sale of the first 95 stations. The cost of each station is $52. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Account Titles and Explanation Cas Sales Revenue (To record sales) Debit 9215 Machook A Credit 9215 Question 13 of 16 0.94/1 E Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 1,525.25.) Account Titles and Explanation Cash Sales Revenue (To record sales) Cast of Gas Sold dory (To record cost of goods sold) eTextbook and Media List of Accounts Debit 92.79 520 Credit 92.79 520
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