17) Meyer & smith is a full-service company. They provide equipment, installation services as well as a full year of technical support. Customers can purchase any product or services separately or as a bundles package. Container Corporation purchase computer equipment, installation, and 12 months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone selling price of the equipment, installation and technical support are $90,000, $60,000, and $30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a A) credit to service revenue of $60,000 B) credit to Sales Revenue for $144,000 INCORRECT C) credit to unearned service revenue $ 24,000 D) debit to unearned service revenue

17) Meyer & smith is a full-service company. They provide equipment, installation services as well as a full year of technical support. Customers can purchase any product or services separately or as a bundles package. Container Corporation purchase computer equipment, installation, and 12 months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone selling price of the equipment, installation and technical support are $90,000, $60,000, and $30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a A) credit to service revenue of $60,000 B) credit to Sales Revenue for $144,000 INCORRECT C) credit to unearned service revenue $ 24,000 D) debit to unearned service revenue

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

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