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Prepare the journal entries for Middle East company

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Question - Middle East 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. Customer purchased computer equipment, installation and training for a total cost of JOD 144,000 on March 15, 2018. Estimated standalone fair values of the equipment, installation and training are JOD90,000, JOD60,000 and JOD30,000 respectively. The computer equipment is delivered on March 28, 2018 and the customer pays Middle East company JOD120,000. Middle East company completes installation and training on April 5. 2018, and the customer pays the remaining balance due. Prepare the journal entries for Middle East company on March 28, 2018.

Reference no: EM133101099

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