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Sandhill Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi -
Sandhill Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a WiFi hot spot. It offers two bundles with the following terms. Sandhill Bundle A sells a tablet with years of Internet service. The price for the tablet and ayear Internet connection service contract is $ The standalone selling price of the tablet is $the cost to Sandhill Tailors is $ Sandhill Tailors sells the Internet access service independently for an upfront payment of $ On January Sandhill Tailors signed contracts, receiving a total of $ in cash. Sandhill Bundle B includes the tablet and Internet service plus a service plan for the tablet PC for any repairs or upgrades to the tablet or the Internet connections during the year contract period. That product bundle sells for $ Sandhill Tailors provides the year tablet service plan as a separate product with a standalone selling price of $ Sandhill Tailors signed contracts for Sandhill Bundle B on July receiving a total of $ in cash. Prepare any journal entries to record the revenue arrangement for Sandhill Bundle A on January and December Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem. Repeat the requirements for part a assuming that Sandhill Tailors has no reliable data with which to estimate the standalone selling price for the Internet service. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem. Prepare any journal entries to record the revenue arrangement for Sandhill Bundle B on July and December Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem. Date Account Titles and Explanation Debit Credi To record sales To record cost of goods sold
Sandhill Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a WiFi hot spot. It offers two bundles with the following terms.
Sandhill Bundle A sells a tablet with years of Internet service. The price for the tablet and ayear Internet connection service contract is $ The standalone selling price of the tablet is $the cost to Sandhill Tailors is $ Sandhill Tailors sells the Internet access service independently for an upfront payment of $ On January Sandhill Tailors signed contracts, receiving a total of $ in cash.
Sandhill Bundle B includes the tablet and Internet service plus a service plan for the tablet PC for any repairs or upgrades to the tablet or the Internet connections during the year contract period. That product bundle sells for $ Sandhill Tailors provides the year tablet service plan as a separate product with a standalone selling price of $ Sandhill Tailors signed contracts for Sandhill Bundle B on July receiving a total of $ in cash.
Prepare any journal entries to record the revenue arrangement for Sandhill Bundle A on January and December Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem.
Repeat the requirements for part a assuming that Sandhill Tailors has no reliable data with which to estimate the standalone selling price for the Internet service. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem.
Prepare any journal entries to record the revenue arrangement for Sandhill Bundle B on July and December Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries. Record journal entries in the order presented in the problem.
Date
Account Titles and Explanation
Debit
Credi
To record sales
To record cost of goods sold
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