how do i record the amount of service contract earned for Dec.31

12A. Perfomance Computers has the following transactions relaled to the sale of merchandise inventory A (Cick the ioon to view the transactions.) Joumalize the transactions for Performance Computers assuming that the company uses the perpetual inventory syslem. (Record debts frst, then credts. Select the explanation on the last Ine of the joumal entry table) Mar. 1: Sold a computer (cost of $4,125) for $11,000 to a customer. The customer paid cash. The sales price included a oneyear service contract valued at $180. Bogin by preparing the entry to joumalize the sale portion of the transaction. Do not record the expense relaled to the sale We will do that in the following step Date Accounts and Explanation Debit Credt Cash Mar 1 11,000 Sales Revenue 10.20 Unearned Reverue 160 More Info Cesh sale including a one year ervice centret Sold a computer (cost of $4,125) for $11.000 te a customer The cuatomer paid cash The sales price included a one year service conpact valued at S180 Recorded the amount of service contract eamed Now journalize the expense related to the March 1 sale-Cost of Goods Sod. $4,125 Mar. 1 Debit Credit Accounts and Explanation Date Dec. 31 4,125 Cost of Goods Sold Mar. 1 Merchandise inventory 4,125 Print Done Recorded the coet of goods sokd Dec 31 Recorded the amount of service contract eamed Debit Credit Accounts and Explanation Date Dec 31 EOestion 12A. Perfomance Computers has the following transactions related to the sale of merchandise inventory A (Click the ioon to view the transactions.) Joumalize the transactions for Performance Computers asuming that the company used the perpetual invertory system. (Record debits finst, then credts. Select the explanation on the last ine of the joumal entry table) Mar. 1 Cash 11000 Sales Revenue 10,820 Uneamed Revenue 160 Cash sale including a oneyear service cortract Now joumalize the experse related to the March 1 sale-Cost of Goods Sold, $4,125. Date Accounts and Explanation Debit Credit More into Cost of Goods Sold Mar 1 4,12 Merchandisa inventory 4125 Mar 1 Sold a computer (oost of $4, 125) for $11.000 to ustomer The ustomer paid cash. The sales price indluded a one-year service contract valued at $80. Recorded the amount of service cortract eamed Dec 31 Recorded the cost of geods sold Dec. 31: Recorded the amount of service contract eamed Prit Done Dete Accounts and Explanalion Debit Credit Dec. 3