17) Meyer & smith is a full-service company. They provide equipment, installation services as well as a full year of technical support. Customers can purchase any product or services separately or as a bundles package. Container Corporation purchase computer equipment, installation, and 12 months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone selling price of the equipment, installation and technical support are $90,000, $60,000, and $30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a A) credit to service revenue of $60,000 B) credit to Sales Revenue for $144,000 INCORRECT C) credit to unearned service revenue $ 24,000 D) debit to unearned service revenue
17) Meyer & smith is a full-service company. They provide equipment, installation services as well as a full year of technical support. Customers can purchase any product or services separately or as a bundles package. Container Corporation purchase computer equipment, installation, and 12 months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone selling price of the equipment, installation and technical support are $90,000, $60,000, and $30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a A) credit to service revenue of $60,000 B) credit to Sales Revenue for $144,000 INCORRECT C) credit to unearned service revenue $ 24,000 D) debit to unearned service revenue
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 63P
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Question
![17) Meyer & smith is a full-service company. They provide equipment, installation services as well as
a full year of technical support. Customers can purchase any product or services separately or as a
bundles package. Container Corporation purchase computer equipment, installation, and 12
months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone
selling price of the equipment, installation and technical support are $90,000, $60,000, and
$30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a
A) credit to service revenue of $60,000
B) credit to Sales Revenue for $144,000 INCORRECT
C) credit to unearned service revenue $ 24,000
D) debit to unearned service reve
evenue](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F53f6f4ac-22a9-4e71-b589-71797df0dec5%2F22c14e5a-01fd-4ef4-a92b-aa16caf60b91%2F8hzap0d_processed.png&w=3840&q=75)
Transcribed Image Text:17) Meyer & smith is a full-service company. They provide equipment, installation services as well as
a full year of technical support. Customers can purchase any product or services separately or as a
bundles package. Container Corporation purchase computer equipment, installation, and 12
months of technical support for a total cost of $144,000 on March 15, 2024. Estimated standalone
selling price of the equipment, installation and technical support are $90,000, $60,000, and
$30,000 respectively. The journal entry to record the transaction on March 15,2024 will include a
A) credit to service revenue of $60,000
B) credit to Sales Revenue for $144,000 INCORRECT
C) credit to unearned service revenue $ 24,000
D) debit to unearned service reve
evenue
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