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need help on part (b) In September 2025, Oriole Corp. commits to selling 140 of its iPhone-compatible docking stations to Blue Spruce Co. for $15,260
need help on part (b)
In September 2025, Oriole Corp. commits to selling 140 of its iPhone-compatible docking stations to Blue Spruce Co. for $15,260 (\$109 per product). The stations are delivered to Blue Spruce over the next 6 months. After 88 stations are delivered, the contract is modified and Oriole promises to deliver an additional 48 products for an additional $4,992 ( $104 per station). All sales are cash on delivery. (a) Prepare the journal entry for Oriole for the sale of the first 88 stations. The cost of each station is $49. (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) 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 Oriole 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. List all debit entries before credit entries.) Step by Step Solution
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