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The answers are correct, I just need to know how to work the problem. All information is in the pictures. Question 5 View Policies Show
The answers are correct, I just need to know how to work the problem.
Question 5 View Policies Show Attempt History In September 2020, Nash Corp.commits to selling 158 of its iPhone-compatible docking stations to Better Buy Co.for $14,694 (593 per product). The stations are delivered to Better Buy over the next 6 months. After 86 stations are delivered the contract is modified and Nash promises to deliver an additional 44 products for an additional $3.872 ($88 per station. All sales are cash on delivery ess pport Your answer is correct. Prepare the journal entry for Nash for the sale of the first 86 stations. The cost of each station is $59. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If ne entry is required, select "No entry" for the account titles and enter for the amounts.) Account Tities and Explanation Debit Credit Cash 7999 Sales Revenue (To record sales) Cost of Goods Sold 5044 (To record cost of goods sold) e Textbook and Media Your answer is correct. Prepare the journal entry for the sale of 10 more stations after the contract modification, assuming that the price for the additional stations reflects the standalone selling price at the time of the contract modification. In addition, the additional stations are distinct from the original products as Nash regularly sells the products separately. (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.) Account Titles and Explanation Debit Credit Cash Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) e Textbook and Media List of Accounts Your answer is correct. Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used. (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 2 decimal places, eg. 1,525.25.) Account Titles and Explanation Debit Credit I Cash Sales Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) e Textbook and Media Assistance Used All information is in the pictures.
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