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Prepare the appropriate journal entry for the transaction

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Question - On August 22, 2021, Cullumber Manufacturing sold on account one of its Model S14 bulldozers including a 5-year service contract for $215,000. The stand-alone price of the equipment is $193,000 and the service contract sells separately between $22,000 and $69,000. Prepare the appropriate journal entry for the transaction. Ignore cost of goods sold entry.

Reference no: EM132558142

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