Question

apple is a full-service technology company. they provide equipment, installation services as well as training. customers can purchase any product or service separately or as a bundled package. sam corporation purchased computer equipment, installation and training for a total cost of $144,000 on march 15, 20x1. on march 15, apple completed to provide and install the equipment. estimated standalone fair values of the equipment, installation and training are $90,000, $60,000 and $50,000 respectively. the journal entry to record the transaction on march 15, 20x1 will include a

Answer 1

The journal entry will include a credit to sales revenue $36,000 and debit to unearned services revenue $36,000.

The journal entry always written in credit and debit with the total value of each column always same to each other.

For this case first we calculate the total for estimated standalone fair values of equipment, installation, and training. So,

Total standalone fair values = $90,000 + $60,000 + $50,000

= $200,000

From that result we can know the unearned services revenue because only training services that not complete. So,

= $144,000 * $50,000 / $200,000

= $36,000

Thus, the unearned services revenue in debit is $36,000 and for credit is $36,000 sales revenue.

Learn more about unearned services revenue here:

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