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In September 2025, Ivanhae Corp commits to selling 150 of its iPhone-compatible docking stations to Metlock Ca. for $14,700 ($9 per product). The stations are
In September 2025, Ivanhae Corp commits to selling 150 of its iPhone-compatible docking stations to Metlock Ca. for $14,700 (\$9 per product). The stations are delivered to Metlock cver the next 6 months. After 90 stations are delivered, the contract is modified and Ivarhoe promises to deliver an additional 40 products for an additional \$3,720/\$93 per station). All sales are cash on delivery. (a) Your answer is correct. Prepare the journal entry for Ivanhoe for the sale of the first 90 stations. The cost of each station is $59. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. if no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Attempts: 1 of 3 used (b) Prepare the journal entry for the sale of 10 mare stations after the contract modification, assuming that the price for the additional stations reflects the standalone selling price at the time of the contract modification. In addition, the additional stations are distinct from the criginal products as Ivanhoe regularly sells the products separately. (Credit account titles are dutomatically indented when the amount is entered. Do not indent manually. If no entry is required select "No entry" for the account tities and enter 0 for the amounts, List all debit entries before credit entries. Attempts: 2 of 3 used (c) Prepare the journal entry for the sale of 10 more stations as in [b]), assuming that the pricing for the additional products does not reflect the standalane selling price of the additional products and the prospective method is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually if no entry is required, select "No entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, es 1,525.25. List all debit entries before credit entries.)
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