Store-It Inc. Sells storage structures of various sized to homeowners and businesses Respond to the requirements related to the following independent revenue arrangements for store-It products and Services. Store-It offers building R400, mainly to homeowners. Store-let will also install the building for the customer. the price for store-It to deliver and install an R400 is $5, 700. On a standalone basis, the building sells for $5, 500 (cost $3, 500), and Store-let estimates that the standalone selling price of the installation service (based on cost-plus estimation) is $500. (Tic selling of the building and the installation services are considered two performance obligations.) Store-let signed 17 contracts to deliver and install R400s on April 5, 2017. Customers paid the contract prick in cash. The buddings were delivered and installed during May 2017. Prepare journal entries for Stork-U for R400 in and May 2011. In June 2017, a single commercial customer orders 50 M612 storage units, priced al$10, 000 each (with a cost per unit of $7, 100). Store-let provides customers ordering, more than 20 M612 units during a 12-month period a 4% volume discount on their entire order. On July 19, 2017, Store-It delivered all 50 M6I2 units. Store-let received payments for the units on August 5, 2017. Prepare the journal entries for Store-lt on July 19, 2017 and August 5, 2017. Assume the company records sales transaction net. On September 1, 2017, Stork-It sold one of its storage units designed to be safe fortuitous materials to a manufacturer. Store-lt accepted a 4-year, zero-integer Aerie finite with face amount of $88, 929. The storage unit has an inventory cost of $34, 000. An interest rate of 9% appropriate market rate of interest for this customer. Prepare the journal entries on September 1, 2017