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Help me answer the problem attached, I'll make sure to thumbs you up. Thanks! Question 5 Not yet answered Marked out of 2.00 p Flag
Help me answer the problem attached, I'll make sure to thumbs you up. Thanks!
Question 5 Not yet answered Marked out of 2.00 p Flag question On May 1, 2020, Chrome Computer, Inc., enters into a contract to sell 5,000 units of keyboard to one of its clients, Website, Inc., at a fixed price of P95,000, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2020. As part of the contract, the seller offers a 25% discount coupon to Website for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Chrome Computer estimates a 50% probability that Website will redeem the 25% discount voucher, and that the coupon will be applied to P20,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is P19.60 per unit. The journal entry that Chrome would record on May 1, 2020 isStep by Step Solution
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