Question
In September 2020, Metlock Corp. commits to selling 139 of its iPhone-compatible docking stations to Better Buy Co. for $14,178 ($102 per product). The stations
In September 2020, Metlock Corp. commits to selling 139 of its iPhone-compatible docking stations to Better Buy Co. for $14,178 ($102 per product). The stations are delivered to Better Buy over the next 6 months. After 84 stations are delivered, the contract is modified and Metlock promises to deliver an additional 49 products for an additional $4,753 ($97 per station). All sales are cash on delivery. Prepare the journal entry for the sale of 10 more stations (as in (b)The cost of each station is $52.), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used.
Account Titles and Explanation Debit Credit Cash Sales Revenue (To record sales) Cost of Goods Sold is Inventory er NA nai (To record cost of goods sold) ne adStep by Step Solution
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