ABC Kitchen sells dishwashers and garbage disposals to customers. The company buys the dishwashers and garbage disposals from a wholesaler and it costs the company $7,000 for each dishwasher and $4,000 for each garbage disposal. The company sells its dishwashers for $10,000 and garbage disposals for $6,080 each. ABC Kitchen will install the dishwashers and garbage disposals for $1,000 each. On Dec 26, 2021, during Boxing day sales, ABC Kitchen offered a deal to its customers where they could buy a dishwasher, garbage disposal, including full installation package for a total price of $14,000. The Company sold 100 packages. The dishwashers and garbage disposals were shipped and delivered on Jan 18, company completed half the installations on Jan 22, 2022 and the 2022 remaining installations were done on Jan 29, 2022. *Question: Prepare all the required journal entry

ABC Kitchen sells dishwashers and garbage disposals to customers. The company buys the dishwashers and garbage disposals from a wholesaler and it costs the company $7,000 for each dishwasher and $4,000 for each garbage disposal. The company sells its dishwashers for $10,000 and garbage disposals for $6,080 each. ABC Kitchen will install the dishwashers and garbage disposals for $1,000 each. On Dec 26, 2021, during Boxing day sales, ABC Kitchen offered a deal to its customers where they could buy a dishwasher, garbage disposal, including full installation package for a total price of $14,000. The Company sold 100 packages. The dishwashers and garbage disposals were shipped and delivered on Jan 18, company completed half the installations on Jan 22, 2022 and the 2022 remaining installations were done on Jan 29, 2022. *Question: Prepare all the required journal entry

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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