Business, 19.03.2020 08:15, ICAMARON5070

Sarjit Systems sold software to a customer for $80,000.

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 $70,000 and a stand-alone six-month technical support contract for $30,000, so these products would sell for $100,000 if sold separately.

Prepare Sarjit’s journal entry to record the sale of the software

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Sarjit Systems sold software to a customer for $80,000.

As part of the contract, Sarjit...