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SkysonzWindows manufactures and sells custom starm windavs for endosed porches. Sloysenz also provides installation service for the windows. The installation process does not invohe changes
SkysonzWindows manufactures and sells custom starm windavs for endosed porches. Sloysenz also provides installation service for the windows. The installation process does not invohe changes in the windovs, so this service can be provided by othervendors. Skysong enters into the following contract on June 1, 2021 , with a local homeowner. The customer purehases windows for a price of $4,900 and chooses Skysong to do the installation. Skysong charpes the same price for the windovs irrespactive of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $1,100. The customer pays Skysone $4,400 \{which equals the fair value of the windowe, which have a cost of $2,200} upan delivery and the ramaining balance upon installation of the windowz. The vindows are delivered on. Auzust 1,2021, Skysanz completes installation on September 15, 2021, and the custamer pays the balance due. (Round amounts to nearast dollar.) Prepare the journal entrizs for Sloyseng in 2021. (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 0 for the amounts. Recond journal entries in the order presented in the problem.) SkysonzWindows manufactures and sells custom starm windavs for endosed porches. Sloysenz also provides installation service for the windows. The installation process does not invohe changes in the windovs, so this service can be provided by othervendors. Skysong enters into the following contract on June 1, 2021 , with a local homeowner. The customer purehases windows for a price of $4,900 and chooses Skysong to do the installation. Skysong charpes the same price for the windovs irrespactive of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $1,100. The customer pays Skysone $4,400 \{which equals the fair value of the windowe, which have a cost of $2,200} upan delivery and the ramaining balance upon installation of the windowz. The vindows are delivered on. Auzust 1,2021, Skysanz completes installation on September 15, 2021, and the custamer pays the balance due. (Round amounts to nearast dollar.) Prepare the journal entrizs for Sloyseng in 2021. (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 0 for the amounts. Recond journal entries in the order presented in the problem.)
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