Business, 20.03.2020 12:39 eraines1714

Machiavelli’s Cable Co. sells different cable television packages to its customers. The firm sells a one-year contract called Maximum Value Package, which includes installation services, premium channels for 1-year, regular channels for 1 year, and a cable box. On January 1, 2017, the firm has sold 1 million of these packages for $1,000 each. These components can be purchased separately according to the following information: Regular channels $30 per month Premium Channels $40 per month Installation services $60 (one-time fee) Cable box $300 per unit Prepare the journal entries at the time of sale (January 1, 2017). Assume all customers paid in cash (no credit sales).

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Machiavelli’s Cable Co. sells different cable television packages to its customers. The firm sells a...