Business, 10.03.2020 04:33, alexisbrad3107
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,000 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $68,000, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2021. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon will be applied to $40,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit. Required: 1. How many performance obligations are in this contract? 2. Prepare the journal entry that Meta would record on May 1, 2021. 3. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. In this case, what journal entry would Meta record on May 1, 2021?
Answers: 3
Business, 22.06.2019 00:00, kluckey3426
Which statement is true of both presidential and parliamentary systems of government? a. the executive branch operates independently from the legislative branch. b. the members of the legislative branch are directly elected by the people. c. the head of government is chosen by members of his or her political party. d. the head of government is directly elected by the people
Answers: 1
Business, 22.06.2019 20:30, williamsdre9371
What talent or skill do u wish too develop for yourself
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Business, 22.06.2019 23:10, najsha
Which of the following best explains the purpose of a strike? a. to pressure employers to increase the minimum wage. b. to make sure that producers don't make any profit. c. to get employers to submit to collective bargaining. d. to prevent employers from taking industrial action.
Answers: 2
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,000 units of Comfort Office Ke...
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