Cameron Windows manufactures and sells custom storm windows for enclosed porches. Cameron also provides installation ser

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Cameron Windows manufactures and sells custom storm windows for
enclosed porches. Cameron also provides installation service for
the windows. The installation process does not involve changes in
the windows, so this service can be provided by other vendors.
Cameron enters into the following contract on June 1, 2021, with a
local homeowner. The customer purchases windows for a price of
$10,200 and chooses Cameron to do the installation. Cameron charges
the same price for the windows irrespective of whether it does the
installation or not. The price of the installation service is
estimated to have a fair value of $4,200. The customer pays Cameron
$7,000 (which equals the fair value of the windows, which have a
cost of $5,750) upon delivery and the remaining balance upon
installation of the windows. The windows are delivered on August 1,
2021, Cameron completes installation on September 15, 2021, and the
customer pays the balance due. Prepare the journal entries for
Cameron in 2021. (Round amounts to nearest dollar.)
Hint: you should have multiple journal entries and
potentially multiple performance obligations.