On January 1, 2017, Spring Fashions Inc. enters into a contract with a southeast retail company to provide 500 dresses for $62,500 ($125 per dress) over the next 10 months. On October 1, 2017, after 450 of the dresses had been delivered (50 dresses per month), the contract is modified.

Required: 1. Fifty dresses were delivered each month for the first 9 months of 2017. Prepare Spring Fashions’s monthly journal entry to record revenue. 2. Assume that the contract is modified to sell, once the original 500 dresses are delivered, an additional 100 dresses at $110 per dress, which is the stand-alone selling price on October 1, 2017. Assume the dresses are delivered evenly in November and December 2017. Prepare the journal entries to record the contract modification.

Prepare journal entries to record a monthly cash sale on January 31 under the original contract and a monthly cash sale on November 30 under the modified contract.

Question

22-10-2021
Business

contestada

On January 1, 2017, Spring Fashions Inc. enters into a contract with a southeast retail company to provide 500 dresses for $62,500 ($125 per dress) over the next 10 months. On October 1, 2017, after 450 of the dresses had been delivered (50 dresses per month), the contract is modified.

Required: 1. Fifty dresses were delivered each month for the first 9 months of 2017. Prepare Spring Fashions’s monthly journal entry to record revenue. 2. Assume that the contract is modified to sell, once the original 500 dresses are delivered, an additional 100 dresses at $110 per dress, which is the stand-alone selling price on October 1, 2017. Assume the dresses are delivered evenly in November and December 2017. Prepare the journal entries to record the contract modification.

Prepare journal entries to record a monthly cash sale on January 31 under the original contract and a monthly cash sale on November 30 under the modified contract.

Respuesta :

Otras preguntas

25.Figure 22.22 shows a plot of potential versus position along the x-axis. Make a plot of the x-component of the electric field for this situation.

What was an outcome of the wars for independence in latin america brainly.

bonjours URGENT quelqu'un pourrais me faire une dissertation sur "les hommes sont-ils concernes par le féminisme ?" merci beaucoup d'avance je vous met en pièce

A data analyst is working with a data frame named retail. It has separate columns for dollars (price_dollars) and cents (price_cents). The analyst wants to comb

FIRST CORRECT ANSWER GETS BRAINLIEST: In the African nation of Niger, French is the official language, while in Nigeria, English is the official language. Why w

Li designed a survey to determine how comfortable students at her middle school are with fractions. There are 600 students in her middle school. The students ar

Please give a complete answer to all questions, citing the legal principle to support your answer. I. John owns a clothing store. He sees Jack put several items

What is TRUE about the scientific method? A. This method focuses on exploring stimuli and responses. B. Psychologists use this method to help reach conclusions.

5. Why was the Berlin Wall built? O to imprison Germany's Jews, Poles, Gypsies, and Slavs o to stop the East German government from adopting communism o to prot

Infectious naked strands of RNA are called Group of answer choices oncogenic viruses. spikes. viroids. phages. prions.

abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2021-10-30T07:42:06+02:00

The appropriate journal entries to record the monthly cash sale on January 31 under the original contract and the monthly cash sale on November 30 under the modified contract are:

Spring Fashions Inc. Journal entries

31-Jan-17

Debit Cash $6,250

Credit Sales $6,250