Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Transcribed Image Text:Sarjit Systems sold software to a customer for $230,000. As part of the contract, Sarjit promises to provide "free" technical support
over the next six months. Sarjit sells the same software without technical support for $200,000 and a stand-alone six-month technical
support contract for $50,000, so these products would sell for $250,000 if sold separately.
Prepare Sarjit's journal entry to record the sale of the software. (If no entry is required for a transaction/event, select "No journal
entry required" in the first account field.)
View transaction list
Journal entry worksheet
1
Record the sale of software for cash.
Note: Enter debits before credits
Transaction
1
General Journal
Debit
Credit
Recept natry
Clear entry
View general journal
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