Exercise 6-9 Crane Company sells goods that cost $305,000...
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Exercise 6-9 Crane Company sells goods that cost $305,000 to Blue Spruce Company for $409,000 on January 2, 2017. The sales price includes an installation fee, which is valued at $40,000. The fair value of the goods is $369,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. 7] Your answer is partially correct. Try again Prepare the journal entries (if any) to record the sale on January 2, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation DebitCredit Accounts Receivable 409000 Sales Revenue 369000 Unearned Revenue 40000
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