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IV. Alpha Co. sells goods that cost $610,000 to Beta, Inc. for $840,000 on January 2, 2019. The sales price inclues instalation which has
IV. Alpha Co. sells goods that cost $610,000 to Beta, Inc. for $840,000 on January 2, 2019. The sales price inclues instalation which has a standalone selling price of $80,000. The standalone price for the goods is $780,000. The instalation is considered a seperate obligation and is expected to take nine months to complete. Terms for the transaction are n/30. Prepare the journal entries to record the sale on January 2, 2019 and the entry on September 30, 2019 when instalation is complete.
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