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Sunny Company signed a contract with Ray Company on 1 June, 2 0 2 3 and Ray paid the contract price of $ 1 .
Sunny Company signed a contract with Ray Company on June, and Ray paid the contract price of $ on the same day. According to the contract, Sunny has to deliver equipment at a cost of $ to Ray and complete the installation on June, The contract price includes installation service standalone selling price of $ and training service standalone selling price of $ Sunny charges the same price for the equipment irrespective of whether it does the installation and training service or not. The installation process does not involve changes to the features of the equipment. The trainings service is expected to take six months to complete and it will start on July, Both installation and training services could be provided by other venders.
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Prepare the journal entries for Sunny Company for the month of June Specify the date
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