Mason Technology is a full-service technology company. Prices for their equipment, installation services, and training are $97,500, $15,000 and $37,500 respectively. Training takes place over a period of three months. Customers can purchase any product or service separately or as a bundled package. Customer Corporation purchased computer equipment, installation, and training for a total cost of $144,000. Chase delivered and installed the equipment on November 1, Year 1 and received cash of $144,000. Training began that same day.

A. Prepare the journal entry necessary on November 1.

B. Prepare the journal entry necessary at December 31.