1. Record the sale of model 217A assuming comparable service contract is sold seperately and using relative fair value method.

2. Record the sale of model 217A assuming the Service contract has a variable stand-alone value ranging from $30,000 to $70,000 and BigBoy uses the residual method.

BigBoy Equipment Inc. sells heavy-duty forklift trucks. Model 217A has a stand-alone price of $49,000. BigBoy offers to sell the 217A inclusive of a three-year service contract for $63,000. a joumal entry to record the sale of one Model 217A forklift truck plus service contract for $63,000 assuming: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. A 2. The service contract has a variable stand-alone value ranging from $12,200 to $21,000 and BigBoy uses the residual value method Journal entry worksheet Record the sale of Model 217A assuming comparable service contract is sold Note: Enter debits before credits Clear entry