Bonita offers contract GM205, which is comprised of a free-standing gas grill for small patio use plus installation to a customers gas line for a total price $873. On a standalone basis, the grill sells for $757 (cost $454), and Bonita estimates that the standalone selling price of the installation service (based on cost-plus estimation) is $164. (The selling of the grill and the installation services should be considered two performance obligations.) Bonita signed 10 GM205 contracts on April 20, 2017, and customers paid the contract price in cash. The grills were delivered and installed on May 15, 2017. Prepare journal entries for Bonita for GM205 in April and May 2017.

The State of Kentucky is planning major renovations in its parks during 2017 and enters into a contract with Bonita to purchase 430 durable, easy maintenance, standard charcoal grills during 2017. The grills are priced at $210 each (with a cost of $158 each), and Bonita provides a 5% volume discount if Kentucky purchases at least 330 grills during 2017. On April 17, 2017, Bonita delivered and received payment for 310 grills. Based on prior experience with the State of Kentucky renovation projects, the delivery of this many grills makes it certain that Kentucky will meet the discount threshold. Prepare the journal entries for Bonita for grills sold on April 17, 2017. Assume the company records sales transaction net.

Bonita sells its specialty combination gas/wood-fired grills to local restaurants. Each grill is sold for $920 (cost $535) on credit with terms 3/30, net/90. Prepare the journal entries for the sale of 20 grills on September 1, 2017, and upon payment, assuming the customer paid on (1) September 25, 2017, and (2) October 15, 2017. Assume the company records sales net.

On October 1, 2017, Bonita sold one of its super deluxe combination gas/charcoal grills to a local builder. The builder plans to install it in one of its Parade of Homes houses. Bonita accepted a 3-year, zero-interest-bearing note with face amount of $5,697. The grill has an inventory cost of $2,539. An interest rate of 10% is an appropriate market rate of interest for this customer. Prepare the journal entries on October 1, 2017, and December 31, 2017.

44cotract Gaoshich is comerised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price $873. On a standalone basis, the onill sells for $757 (cost $454), and Bonita performance obligations.) Bonita signed 10 GM205 contracts Denita 017s on April 20, 2017, and customers paid the contract price in cash. The grills were delivered and installed on May 15, 2017. Prepare journal entries for estimates that the standalone selling price of the installation service (based on cost -plus estimation) is $164. (The selling of the gril and the installation services should be considered two account titles and enter 0 for the amounts) are automatically indented wheen the amount is entered. Do not indent manualily. If no entry is required, select "No entry" for the Date Account Titles and Explanation Apr. 20, 2017 Debit Credit May 15, 2017 To record sales) To recond cost of goods sold 44cotract Gaoshich is comerised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price $873. On a standalone basis, the onill sells for $757 (cost $454), and Bonita performance obligations.) Bonita signed 10 GM205 contracts Denita 017s on April 20, 2017, and customers paid the contract price in cash. The grills were delivered and installed on May 15, 2017. Prepare journal entries for estimates that the standalone selling price of the installation service (based on cost -plus estimation) is $164. (The selling of the gril and the installation services should be considered two account titles and enter 0 for the amounts) are automatically indented wheen the amount is entered. Do not indent manualily. If no entry is required, select "No entry" for the Date Account Titles and Explanation Apr. 20, 2017 Debit Credit May 15, 2017 To record sales) To recond cost of goods sold