Fixtures and Furniture Inc. has given you, their accountant, pricing and cost information on their man products as follows:

Item Stand-alone selling price (cost) Couch $2,400 ($1,000) Coffee Table $ 750 ($300) Chair $1,100 ($600)

Customers can contract a purchase either individually at the stated prices or for a three-item bundle with a price of $4,200. The bundle includes delivery which has a stand-alone service price of $400. Furniture and Fixtures uses the relative fair value approach to assign transaction costs where required.

GoodCustomer Inc. would like to take advantage of the bundle price for 50 furnished apartments. On April 1, 2020, Fixtures and Furniture signs a contract with GoodCustomer for delivery of 50 bundles. Under the agreement, Furniture and Fixtures will hold the furniture in its warehouse until ready for installation. GoodCustomer will pay a 50% deposit at contract signing. On June 1, Furniture and Fixtures complete the manufacture of the furniture and places them in the warehouse. Control has passed to GoodCustomer on this date. On August 1, Furniture and Fixtures delivers the furniture.

Required:

Prepare all necessary journal entries at

(a) April 1.

(b) June 1.

(c) August 1.