Business, 25.07.2019 07:30 giavanleer14
Sheffield offers contract gm205, which is comprised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price $862. on a standalone basis, the grill sells for $756 (cost $422), and sheffield estimates that the standalone selling price of the installation service (based on cost-plus estimation) is $154. (the selling of the grill and the installation services should be considered two performance obligations.) sheffield signed 10 gm205 contracts on april 20, 2017, and customers paid the contract price in cash. the grills were delivered and installed on may 15, 2017. prepare journal entries for sheffield for gm205 in april and may 2017
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