Concord Home Inc. offers its customers two furnace maintenance services. One service is for a onetime cleaning and servicing of a
home furnace at a cost of $ Customers can earn a discount from this price if they pay before Concord's calendar fiscal year end
for maintenance services to be performed in the following year. The second service offered by Concord is a threeyear maintenance
plan that sells for $ The first year's maintenance service for this threeyear plan will be delivered before Concord's fiscal year end.
No discount for early payment is offered for the second plan.
a
Prepare the summary journal entry for the cash sale of onetime plans for the current year, discounted onetime plans for
the following year, and threeyear maintenance plans. Credit account titles are automatically indented when the amount is
entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select No Entry" for the account titles and
enter for the amounts.
Account Titles and Explanation
Debit
Credit
