Business, 25.03.2021 17:20, coolcat3190

On July 8, Compusoft receives $300,000 from a customer toward a cash sale of $1.10 million for customized computer equipment to be completed on August 1. The remaining $800,000 payment is received upon delivery of the product on August 1. The equipment had a total production cost of $640,000. What journal entries should Compusoft record on July 8 and August 1

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On July 8, Compusoft receives $300,000 from a customer toward a cash sale of $1.10 million for custo...