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Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,100 per machine. HEG usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service 3 Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRI machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6, 440 .HEC also separately selis 12 months of taining and repatr services forfMRi machines for $2.760 .HEC is pald $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Equipment Service Allocated Transaction Price S For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Ć Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, etermme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice

Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,100 per machine. HEG usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service 3 Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRI machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6, 440 .HEC also separately selis 12 months of taining and repatr services forfMRi machines for $2.760 .HEC is pald $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Equipment Service Allocated Transaction Price S For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Ć Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, etermme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its Inventory at a cost of $4,100 per machine. HEC usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRi machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6,440 .HEC also separately selis 12 months of taining and repatr services forfMRI machines for $2.760 . HEC is pald $6, 440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Ć Equipment Service Ű For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Allocated Transaction Price Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, determme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice
Transcribed Image Text:Recording journal entry after allocating transaction price to performance obligations -for the machine sold at its regular price, but with one year of free training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Hospital Equipment Company (HEC) acquired several fMRI machines for its Inventory at a cost of $4,100 per machine. HEC usually sells these machines to hospitals at a price of $6.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $2.760. HEC is paid $6,440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price but included one year of free training and repair service Hide Transcribed Text Hospital Equipment Company (HEC) acquire d several fMRi machines for its inventery at a cost of $4, 100 per machine. HEC usually sells these machines to hospitais at a price of $6,440 .HEC also separately selis 12 months of taining and repatr services forfMRI machines for $2.760 . HEC is pald $6, 440 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC soid the machine at its regular price but included one year or free training and repalf: service: Ć Equipment Service Ű For the machine sold at its regular price, but with one year of "free" training and repair service, determine the dollar amount of revenue earned from the equipment sale versus the revenue earned from the training and repair service Allocated Transaction Price Hide Transcribed Text For the machine sold otits regular pice, but with one year of free" training ond repair service, determme the dolllar amount of revenue earnec from the equipment sale versus the revenue earned from the training and repair senice
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