Business, 08.04.2021 23:30, justritegrl

Bonita Company sells on credits goods that cost $320,000 to Ricard Company for $403,500 on January 2, 2020. The sales price includes an installation fee, which has a standalone selling price of $38,500. The standalone selling price of the goods is $365,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. (a) Prepare the journal entries (if any) to record the sale on January 2, 2020.

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Bonita Company sells on credits goods that cost $320,000 to Ricard Company for $403,500 on January 2...