Crindlen Inc sells a variety of computer products and data plans. Computers are compatible with...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Crindlen Inc sells a variety of computer products and data plans.
Computers are compatible with data and computers do not need to be repaired or serviced by the company.
Customers can pick to buy a computer or data plans separately; however, to there is a bundle they offer with discounts, sales staff encourage customers to bundle their transacitons.
On Aug 27, the company offered a special. Customers who ordered a 2-year data service plan received the latest computer - The Gen4. The Gen4 retails for $800 and the monthly data service plan retails for $50 / month. The company paid $200 to make the computer.
The total price charged to the customer was $1,300 paid in cash when the contract was first signed.
Customers obtained the computer on Aug 1 and their cell phone data services were activated immediately.
What is the adjusting journal entry would be recorded for August 31?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.