Crane Windows manufactures and sells custom storm windows for three-season porches. Crane also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Crane enters into the following contract on July 1, 2025, with a local homeowner. The customer purchases windows for a price of $2,670 and chooses Crane to do the installation. Crane charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Crane $2,016 (which equals the standalone selling price of the windows, which have a cost of $1,250) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2025, Crane completes installation on October 15, 2025, and the customer pays the balance due. (a) Your answer is correct. Crane estimates the standalone selling price of the installation based on an estimated cost of $720 plus a margin of 20% on cost. Prepare the journal entries for Crane in 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Round answer to O decimal places, e.g. 5,125. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Do not round intermediate calculations.) Account Titles and Explanation Date July 1, 2025 No Entry No Entry Sep. 1,2025 Cash Accounts Receivable Sales Revenue Unearned Service Revenue (To record sales) Sep. 1, 2025 Cost of Goods Sold Oct. 15, 2025 venue Recognition Inventory (To record cost of goods sold) Cash Question 2 of 8 < > eTextbook and Media List of Accounts Service Revenue Debit 2016 654 1250 6541 2.5/5 E Cre Attempts: 3 of 5 used (b) Given uncertainty of finding skilled labor, Crane is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Crane in 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Do not round intermediate calculations.) Date Account Titles and Explanation July 1, 2025 Sep. 1, 2025 Oct. 15, 2025 eTextbook and Media (To record sales) (To record cost of goods sold) Debit Cre Assistance Used List of Accounts Save for Later Last saved 6 hours ago. Attempts: 0 of 5 used Submit Answer