Question
Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas contract specifies that it will receive a flat fee of $54,000 and
Sarjit Systems sold software to a customer for $166,000. As part of the contract, Sarjit promises to provide free technical support over the next six months. Sarjit sells the same software without technical support for $144,000 and a stand-alone six-month technical support contract for $36,000, so these products would sell for $180,000 if sold separately. | ||||||||||||||||
Prepare Sarjits journal entry to record the sale of the software
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