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3. Ahmed sells goods costing $150,000 to Samad for $210,000 on January 2, 2020, including installation fee of $18,000. The fair value of goods

3. Ahmed sells goods costing $150,000 to Samad for $210,000 on January 2, 2020, including installation fee of $18,000. The fair value of goods is $185,000. The installation is expected to take 6 months. (a) Prepare the journal entry to record the sales. (b) How much sales revenue should be recording for the first quarter, ending on March 31, 2020?

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