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a Secure https//www.math kaspxThomeworkld 4967248558iquestionld- 1&flushed-truecld 5157177centerwin yes ACG 3024-Accounting for Managers Fall 2018 Leniqueca White & Homework: Homework 3 - Chapters 5-6 Score: 0 of 5 pts TI5A-7 (similar to) 41 of 2 (1 complete) HYV Score: 50%, 5 of 10 pt Question Help 12A. Fast Compues has the tollowing bansactions related to the sale of merchandise inventory 0 Cick the icon to view the rasactions ) Journalize the transacions for Fast Computers assuming that the company uses the perpetual inventory system (Recond dabits fest, then credts Select the explination on the lest in of the yournal entry table) Mar 1: Sold a computer (cost of $4 400) for $11,000 to a customer The customer paid cash The sales price icuded a one year service contract vakued at 52 Begin by proparing the entry to joumalize the sale portion of the transaction Do not record the expense relatod to the sake We wil o that in th Solowing shap Date Accounts and Explanation Debit Credit Mone Inf Mar 1 Mar 1 Sold a computer (cost of $4 400) for $11,000 to a customer The customer paid Dec 31 Recorded the amount of service contract eamed cash. The sales price included a one-year service contract valued at $228 Pnt Done Choose trom any ist or enter any number in the input fields and then cick Check Answer Check Asswer O Type here to search

Explanation / Answer

Journal entry Date Account Titles Debit Credit Mar.1 Cash $11,000.00 Sales $10,772.00 Unearned Service Revenue $228.00 Mar.1 Cost of goods sold $4,400.00 Inventory $4,400.00 Dec.31 Unearned Service Revenue $228.00 Service Revenue $228.00

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