Requirement : 1
| particular | No | |
|
Two
(2) |
Explaination
one is seeling of keyboards and the second is discount coupon for next six months
Requirement : 2
Journal entry
| Date | Description | Debit | Credit |
| May 1,2016 | Cash | 94,600 | |
| Deffered Revenue- Key board | 89,100 | ||
| Deffered Revenue- Discount option | 5,500 |
Working
the seller offers a 25% discount coupon to Bionics for any purchases in the next six months.
, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher
the coupon will be applied to $ 44,000 of purchases.
The stand-alone selling price for the Comfort Office Keyboard is $19.80 per unit.
= $ 44000 x 0.5 ( probability )
= $ 22000
now we will calulate Deffered Revenue- Discount option
=$ 22,000 x 25%
