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Make a journal entry to record revenue for the sale

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Question - DGA Associates, Inc. sells computer workstations designed for architects. In 2018, it sold 120 workstations for $360,000. For each workstation sold, DGA distributed a 40% discount coupon for any additional future purchases made in 2019. Based on historical experience, DGA expects that approximately 30% of the coupons will be utilized, and the goods purchased with the coupons would normally sell for $350. In addition, a coupon to purchase a one-year extended warranty for $75 was included with each workstation. Customers can buy the extended warranty for $75 at other times as well.

Using the above information, how many performance obligations are in the contract?

Using the above information, make a journal entry to record revenue for the sale of 120 computer workstations in 2018.

Reference no: EM132556335

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