Business, 20.02.2020 19:01 genyjoannerubiera

The State of Kentucky is planning major renovations in its parks during 2020 and enters into a contract with Riverbed to purchase 430 durable, easy maintenance, standard charcoal grills during 2020. The grills are priced at $210 each (with a cost of $154 each), and Riverbed provides a 5% volume discount if Kentucky purchases at least 280 grills during 2020. On April 17, 2020, Riverbed delivered and received payment for 260 grills. Based on prior experience with the State of Kentucky renovation projects, the delivery of this many grills makes it certain that Kentucky will meet the discount threshold. Prepare the journal entries for Riverbed for grills sold on April 17, 2020. Assume the company records sales transaction net.

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