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Blossom Home Improvement Ltd. (BHI) sells windows and also provides installation service for the windows. Thoms Inc. purchased windows and installation services for a price
Blossom Home Improvement Ltd. (BHI) sells windows and also provides installation service for the windows. Thoms Inc. purchased windows and installation services for a price of $2,170 from BHI. The stand-alone value of the windows sold is $2,115. BHI normally charges $235 for this type of installation service when purchased separately. Thoms pays BHI$1,500 on delivery of the windows on May 25,2024 , and pays the balance of the contract when the installation is complete. The installation took place on June 3,2024 , and the balance of the contract was collected. Prepare the appropriate journal entries for the transaction. Ignore the cost of goods sold entry and any refund liability. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Round percentage of total stand-alone value to 1 decimal place, e.g. 15.2% and final answers to 0 decimal places, e.g. 5,125.)
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