7 BigBoy Equipment Inc. sells heavy-duty forklift trucks. Model 217A has a stand-alone price of $156,000. BigBoy offers to sell the 217A inclusive of a three-year service contract for $200,700. Required: Prepare a journal entry to record the sale of one Model 217A forklift truck plus service contract for $200,700 assuming: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 6 points 1. A comparable service contract is sold separately for $104,000. BigBoy uses the relative stand-alone value method for multiple deliverables. 2. The service contract has a variable stand-alone value ranging from $60,500 to $104,000 and BigBoy uses the residual value method. eBook References View transaction list Journal entry worksheet