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Prepare the journal entries for the transactions mentioned. Your client has purchased a new computer system for $3,000,000 from your firm. This purchase includes the
Prepare the journal entries for the transactions mentioned.
Your client has purchased a new computer system for $3,000,000 from your firm. This purchase includes the hardware, software, a maintenance agreement, and training for employees. Your firm sells some of these items separately. Normally the software sells for $500,000, the maintenance agreement sells for $300,000, and training sells for $200,000. The computer should last for five years. The maintenance agreement lasts for four years, and the training will be done in the first year. Your client has purchased a new computer system for $3,000,000 from your firm. This purchase includes the hardware, software, a maintenance agreement, and training for employees. Your firm sells some of these items separately. Normally the software sells for $500,000, the maintenance agreement sells for $300,000, and training sells for $200,000. The computer should last for five years. The maintenance agreement lasts for four years, and the training will be done in the first yearStep by Step Solution
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