2 3 128 Question 2 129 130 131 132 EES D E 15 marks Rooster Co. purchases equipment from Ram Ltd. contracts with Ram to install the equipment. Using market data, the fair values of the installation service and the equipment are estimated. Fair value Equipment Service 257,920 64,480 H 134 Rooster Co. agrees to the following payment schedule: 135 At signing of agreement 136 When the equipment is delivered 137 138 When the installation is done Total 43,524 101,556 145,080 290,160 Prepare the journal entries for Ram for the following transactions: There are more yellow boxes given than necessary for the 1/E. Leave blank the boxes that you do not need. If there is no 1/E needed, leave the boxes blank. At signing of agreement 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 Instruction Questions When the equipment is delivered: When the installation is done