Question 8 Crane Company sells goods that cost $ 320,000 to Ricard Company for $398,000 on January 2, 2017. The sales price includes an installation fee, which has a standalone selling price of $ 44,000. The standalone selling price of the goods is $ 354,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. (a) Prepare the journal entry (if any) to record the sale on January 2,2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Jan. 2, 2017 Jan. 2. 2017