View Policies Current Attempt in Progress Whispering Company sells outdoor grilling products, providing gas and charcoal grills, accessories, and installation services for custom patio grilling stations, Respond to the requirements related to the following independent revenue arrangements for Whispering products and services Whispering offers contract MG 100 which is comprised of a free-standing gasgrill for small patio use plus installation to a customer's gas line for a total price $1,100. On a standalone basis, the grill sells for $800 (cost 5460), and Whispering estimates that the fair value of the installation service (based on cost-plus estimation) is $200. Whispering signed 30 MG100 contracts on May 30, 2021, and customers paid the contract price in cash. The grills were delivered and installed on June 15, 2021. Prepare journal entries for Whispering for MG 100 in May and June 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit NAPA Book - Ence DELL question 2 of 5 30 (To record sales revenue) (To record the cost of goods sold) Whisperinis sells its specialty combination gaswood-fired grills to locafrestaurants. Each grilt is sold for $1.550 (cost $600) on credit with terms 3/20.net/60 Prepare the journal entries for the sale of 35 grills on August 1, 2021, and upon payment, assumiry the customer paid on (1) August 20, 2021. and (2) September 29, 2021. Assume the company records sales net. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts gement xfokl= focal DELL 30 11 Question 2 of 5 Whispering sells its specialty combination gas/wood fredrills to local restaurants. Each grill is sold for $1,550 (cost $60) on credit with terms 3/20, net/60 Prepare the journal entries for the sale of 35 grill on wo 1.2021, and upon payment, assuming the customer paid on (1) August 20, 2021, and (2) September 29, 2021. Assume the company records sales net. (Credit account titles are automatically indented when amount is entered. Do not indent merually. If no entry is required, select "No Entry for the account titles and enter for the amounts) No. Account Titles and Explanation Debit Credit 1. (To record sales on account) (To record the cost of goods sold) To record cash collected) 2 (to record sales on account) PAP ooks-Becel DELL (To record the cost of goods sold) (To record cash collected) 2. (To record sales on account) (To record the cost of goods sold) (To record cash collected) Store Attempts of lused Submit Antw TANPA * Books - Bed DELL
