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A company sold a product to a customer for $293,000. As part of the contract, the company promises to provide free technical support over the
A company sold a product to a customer for $293,000. As part of the contract, the company promises to provide "free" technical support over the next six months. The company sells the same product without technical support for $255,000 and a stand-alone 5 month technical support contract for $45,000, so these products would sell for $300,000 if sold separately. Prepare the company's journal entry to record the sale of the product. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the sale of software for cash. Note: Enter debits before credits
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