Question 13 of 14 -/2 View Policies Current Attempt in Progress Sheridan Company vells goods that cost $315.000 to Concord Company for $400.000 on January 2, 2020. The sales price includes an installation fee, which is valued at $32,800. The fair value of the goods $377.200. The goods were delivered on March 1, 2020 Installation is considered a separate performance obligation and was completed on June 18, 2020. Under the terms of the contract Concord Company ways Sheridan $267.000 upon delivery of the goods and the balance at the completion of the installation Using the five-step process for revenue recognition, determine when and how much revenue would be recognised by Sheridan Assume IFRS is followed. (Round percentage allocations to 2 decimal places, 15.25 and final answers to decimal places, os 5.275.) Performance Obligation When? How much? 5 Deliver goods Installation 722C Goudy Using the five-step process for revenue recognition determine wner and now muchrevente Dergued by her Assume IFRS is followed (Round percentage allocations to 2 decimal places 15.25 and final answers to decimal places.es 5.2750 How much? Performance Obligation When? Deliver goods Installation Total Prepare the journal entries for Sheridan on January 2 March 1, and June 18, 2020. (Credit accounts are indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry Exam 01:51:31 Question 13 of 14 > -/2 E Account Titles and Explanation Debit (To record sales) ht (To record sales (To record cost of goods sold) 08 7 coul