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On January 1 , 2 0 2 0 , Carly Fashions Inc. enters into a contract with a regional retail company to provide 5 0
On January Carly Fashions Inc. enters into a contract with a regional retail company to provide blouses for $ over the next months. On September after of the blouses had been delivered blouses per month the contract is modified.
Required:
a Fifty blouses were delivered each month for the first months of Prepare Carly Fashionss monthly journal entry to record revenue. For grading purposes use August to date the entry that would be made each month.
b Assume that the contract is modified on September to sell, once the original blouses are delivered, an additional blouses at $ per blouse, which is the standalone selling price on October The additional blouses are to be delivered in November. Prepare the November journal entry to record the contract modification. For grading purposes use November to date the entry.
c Assume instead that the contract is modified on September to alter the price of the additional blouses to $ per blouse, which is the standalone selling price on October Assume the blouses are delivered evenly on September and October Prepare the journal entries for September and October to record this contract modification for September and October a Fifty blouses were delivered each month for the first months of Prepare Carly Fashions's monthly journal entry to record
revenue. For grading purposes use August to date the entry that would be made each month.
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GENERAL JOURNAL
b Assume that the contract is modified on September to sell, once the original blouses are delivered, an additional
blouses at $ per blouse, which is the standalone selling price on October The additional blouses are to be delivered in
November. Prepare the November journal entry to record the contract modification. For grading purposes use November to date
the entry.
c Assume instead that the contract is modified on September to alter the price of the additional blouses to $ per blouse,
which is the standalone selling price on October Assume the blouses are delivered evenly on September and October
Prepare the journal entries for September and October to record this contract modification for September and October
Please fill out every jounal entry each line is required. THank you!
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