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27-10-2022
Business

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on july 8, compusoft receives $350,000 from a customer toward a cash sale of $0.90 million for customized computer equipment to be completed on august 1. the remaining $550,000 payment is received upon delivery of the product on august 1. the equipment had a total production cost of $690,000. what journal entries should compusoft record on july 8 and august 1? assume compusoft uses the perpetual inventory system.

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