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Prepare the journal entry for sheffield for the sale

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Reference no: EM132368101

Question

In September 2017, Sheffield Corp. commits to selling 149 of its iPhone-compatible docking stations to Better Buy Co. for $16,390 ($110 per product). The stations are delivered to Better Buy over the next 6 months. After 92 stations are delivered, the contract is modified and Sheffield promises to deliver an additional 45 products for an additional $4,725 ($105 per station). All sales are cash on delivery.

Prepare the journal entry for Sheffield for the sale of the first 92 stations. The cost of each station is $52. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Reference no: EM132368101

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