maintenance services. Alaadel Company performed the following revenue transactions during 2020:

b- Alaadel Company offers contract AZ301, which is comprised of a free-standing machine plus installation it to a customer for a total price $6000. On a standalone basis, the machine sells for $5000 (cost $4000), and Alaadel Co. estimates that the standalone selling price of the installation service is $3000. Note that installation service can be performed by other companies. On June 10, 2020, Alaadel Co. signed AZ301 contract and delivered a machine to Alfatah Co. The customer paid the contract price in cash in the same date. On July 5, 2020, the installation service was performed.

Instructions: 1- Prepare the needed entries to record the previous transactions in Alaadel books during 2020. 2- Prepare income statement and statement of financial position (for only the sections that are affected by these transactions) to reflect the effects of previous transactions on them.