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Trevi Inc. sells pools for outdoor use. Below are the details on the cost to customers. Heaters for pools $ 3 , 6 0 0
Trevi Inc. sells pools for outdoor use. Below are the details on the cost to customers.
Heaters for pools $ each
Installation $ each
Maintenance plan years $ each
Pools $ each
Trevi sold three pools with heaters to Deluxe Appts for a total contract price of $ The contract includes installation and a maintenance plan for each of the pools. Trevi signs the contract on May and receives a down payment. The pools are delivered and installed on June and full payment is made.
Required:
Prepare the journal entries for Trevi in related to this arrangement as well as any adjusting journal entries at its December year end. Omit any cost of goods soldinventory entries.
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