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Q2. No paper answers please they are hard for me to understand. Tamarisk Windows manufactures and sells custom storm windows for three-season porches. Tamarisk also
Q2. No paper answers please they are hard for me to understand.
Tamarisk Windows manufactures and sells custom storm windows for three-season porches. Tamarisk also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Tamarisk enters into the following contract on July 1,2020 , with a local homeowner. The customer purchases windows for a price of $2,520 and chooses Tamarisk to do the installation. Tamarisk charges the same price for the windows irrespective of whet in instation service is estimated to have a standalone selling price of $600. The customer pays Tamarisk $2,050 (which equals the standalone selling price of the windows, which have a cost of $1,110 ) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Tamarisk completes installation on October 15,2020 , and the customer pays the balance due. Prepare the journal entries for Tamarisk in 2020. (Credit account titles are automatically indented when the tiStep by Step Solution
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