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In September 2020, Blossom Corp. commits to selling 151 of its iPhone-compatible docking stations to Better Buy Co. for $16,459 ( $109 per product). The
In September 2020, Blossom Corp. commits to selling 151 of its iPhone-compatible docking stations to Better Buy Co. for $16,459 ( $109 per product). The stations are delivered to Better Buy over the next 6 months. After 88 stations are delivered, the contract is modified and Blossom promises to deliver an additional 48 products for an additional $4,992 (\$104 per station). All sales are cash on delivery. (a) Prepare the journal entry for Blossom for the sale of the first 88 stations. The cost of each station is $49. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
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