list of accounts

List of Accounts

Accounts Receivable Accounts Payable Advertising Expense Allowance for Sales Returns and Allowances Billings on Construction in Process Cash Cash, Parts, Labor Commission Expense Commission Revenue Construction in Process Construction Expenses Contract Asset Contract Liability Cost of Goods Sold Cost of Installment Sales Deferred Gross Profit Delivery Expense Discount on Notes Receivable Estimated Inventory Returns Finished Goods Inventory Franchise Revenue Freight- Out Gain on Repossession Income Summary Installment Accounts Receivable Installment Sales Revenue Interest Expense Interest Revenue Inventory Inventory on Consignment Liability to Bonus Point Customers Liability to Enyart Company Liability to Werner Metal Company License Revenue Loss from Long-Term Contracts Loss on Repossession Materials, Cash, Payables No Entry Notes Receivable Operating Expenses Payable to Consignor Purchases Realized Gross Profit Repossessed Merchandise Retained Earnings Returned Inventory Revenue from Consignment Sales Revenue from Franchise Fees Revenue from Long-Term Contracts Sales Discounts Sales Discounts Forfeited Sales Returns and Allowances Sales Revenue Service Revenue Unearned Franchise Revenue Unearned Sales Revenue Unearned Service Revenue Unearned Warranty Revenue Warranty Expense Warranty Liability

Question 9 --/1 View Policies Current Attempt in Progress In September 2020, Tamarisk Corp. commits to selling 141 of its iPhone-compatible docking stations to Better Buy Co. for $14,946 ($106 per product). The stations are delivered to Better Buy over the next 6 months. After 86 stations are delivered, the contract is modified and Tamarisk promises to deliver an additional 49 products for an additional $4,949 ($101 per station). All sales are cash on delivery. Prepare the journal entry for Tamarisk for the sale of the first 86 stations. The cost of each station is $52. (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.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) Prepare the journal entry for the sale of 10 more 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 original products as Tamarisk regularly sells the products separately. (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.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) 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 standalone 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, e.g. 1,525.25.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold)