1. Allocate Transaction Price, Upfront Fees Tablet Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Tablet Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $500. The standalone selling price of the tablet is $250 (the cost to Tablet Tailors is $175). Tablet Tailors sells the Internet access service independently for an upfront payment of $300. On January 2, 2020, Tablet Tailors signed 100 contracts, receiving a total of $50,000 in cash. Instructions: (a) Prepare any journal entries to record the revenue arrangement for Tablet Bundle A on January 2, 2020, and December 31, 2020. (round to the nearest whole dollar) Standalone price per contract: Standalone Price Tablet Standalone Price: Internet Total standalone price $ Enter cacluation into Allocation per contract: cells Tablet Internet *Total $ *Total should equal the sales revenue per contract