20 May PREPARE THE JOURNAL ENTRY FOR GAERTNER FOR THE SALE OF THE FIRST 90 STATIONS.
Prepare the journal entry for Gaertner for the sale of the first 90 stations. The cost of each station is $54.
(b) Prepare the journal entry for the sale of 10 more stations after the contract modification, assuming
that the price for the additional stations reflects the standalone selling price at the time of the contract
modification. In addition, the additional stations are distinct from the original products as
Gaertner regularly sells the products separately.
(c) Prepare the journal entry for the sale of 10 more stations (as in (b)), assuming that the pricing for the
additional products does not reflect the standalone selling price of the additional products and the
prospective method is used.
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