Business, 15.04.2020 01:37 johnkhan6748

On July 8, Compusoft receives $200,000 from a customer toward a cash sale of $0.90 million for customized computer equipment to be completed on August 1. The remaining $700,000 payment is received upon delivery of the product on August 1. The equipment had a total production cost of $650,000.

What journal entries should Compusoft record on July 8 and August 1?

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On July 8, Compusoft receives $200,000 from a customer toward a cash sale of $0.90 million for custo...

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