1) (3 points) In August, Winning Times Football Consulting (WTF) signs a contract with Mizzou Football to provide consulting services. The contract specifies that WTF will be paid $40,000 per month for the four months of the contract (September 1 - December 31). If Mizzou wins 6 or more games during the season, WTF will receive a bonus of $100,000. WTF uses the expected value method and estimates that there is a 40% chance that they will earn the bonus. a) (1 pt) Provide journal entry that WTF should record on September 30. Assume Mizzou Football pays the fixed monthly fee in cash at the end of each month. b) (1 pt) As of December 6, Mizzou has won 5 games, including dominating wins over Alabama and Georgia. At this point, WTF estimates that there is an 80% chance that they will earn the bonus. Provide the journal entry WTF should record at the time they change their estimate. c) (1 pt) Sadly, Mizzou closes out the season without winning another game, finishing the season with 5 wins. WTF did not make any further revisions to their estimates about the bonus after December 6 as described in (b). Provide the journal entry WTF should record on December 31 to recognize any revenue and close out the contract. Note: The season is over as of December 31