Hospital Equipment Company $($HEC$)$ acquired several fMRI machines for its inventory at a cost of $$3,600$ per machine.

HEC usually sells these machines to hospitals at a price of $$6,960.$ HEC also separately sells $12$ months of training and

repair services for fMRI machines for $$1,740.$ HEC is paid $$6,960$ cash on November $30$ for the sale of an fMRI machine

delivered on December $1.$ HEC sold the machine at its regular price but included one year of free training and repair

service.

PA$6-4($Algo$)$ Part $2$

Prepare journal entries would HEC record on November $30$ and December $1?($Assume HEC uses a perpetual inventory system

for recording the cost of goods sold.$)($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the

first account field.$)$

Journal entry worksheet

Record the receipt of cash.