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Crazy Apple Company manufactures low-price, no-frills appliances that are in great demand for rental units Standalone tem Selling Price (Cost) Refrigerator Range 450 (350) 300 (175) Stackable washeridryer unit 400 (200) Customers can contract to purchase either individually at the stated prices or a three-item bundle with a price of $1,060 The bundle price includes delivery and installation. Economy also provides installation (not a separate performance obligation) Respond to the requirements related to the following independent revenue arrangements for Crazy a. On March 1, 2017, Crazy Apple sold 200 washer/dryer units without installation to Apple. for $80,000. Suns hine is a newer customer and is unsure how this product will work in its older rental Apple offers a 90-day return privilege and estimates, based on prior experience with sales on this product. 8% units will cost of goods sold on March 1, 2017, Crazy Apple uses the gross method to record of the units will be returned. Prepare the journal entries for the sale and related contract with Seashore for 600 appliance bundles to be delivered and installed in one of its new buildings. Seashore pays 25% cash at contract signing and will pay the balance upon installation no later than August 1, 2017. Prepare journal entries for Economy on (1) June 1, 2017, and (2) August 1, 2017, when all appliances are installed b. Seashore Property Managers operates student apartment buildings. On June 1, 2017, Crazy signs a Crazy Apple Company manufactures low-price, no-frills appliances that are in great demand for rental units Standalone tem Selling Price (Cost) Refrigerator Range 450 (350) 300 (175) Stackable washeridryer unit 400 (200) Customers can contract to purchase either individually at the stated prices or a three-item bundle with a price of $1,060 The bundle price includes delivery and installation. Economy also provides installation (not a separate performance obligation) Respond to the requirements related to the following independent revenue arrangements for Crazy a. On March 1, 2017, Crazy Apple sold 200 washer/dryer units without installation to Apple. for $80,000. Suns hine is a newer customer and is unsure how this product will work in its older rental Apple offers a 90-day return privilege and estimates, based on prior experience with sales on this product. 8% units will cost of goods sold on March 1, 2017, Crazy Apple uses the gross method to record of the units will be returned. Prepare the journal entries for the sale and related contract with Seashore for 600 appliance bundles to be delivered and installed in one of its new buildings. Seashore pays 25% cash at contract signing and will pay the balance upon installation no later than August 1, 2017. Prepare journal entries for Economy on (1) June 1, 2017, and (2) August 1, 2017, when all appliances are installed b. Seashore Property Managers operates student apartment buildings. On June 1, 2017, Crazy signs a