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Allen Corp. sells air conditioners. Pricing and cost information on 1 air conditioner are as follows: Item Refrigerator Standalone Selling Price/unit $2,800 Cost/unit $2,000 Allen Corp. sells 10 refrigerators to Ace company at a total contract price of $30,000. The contract price also includes a 3-year maintenance plan starting from the appliance delivery date. The maintenance service is determined to have a fair value of $4,000. Ace company is obligated to pay Allen Corp. the $30,000 upon the delivery of the appliance. Allen Corp. signs the contract on April 1, 2020. The refrigerators are delivered on July 1, 2020, and the contract price is paid to Allen Corp. on the same date. The 3-year maintenance plan starts from July 1, 2020. (1) What are the 2 different performance obligations in this revenue arrangement: (3 points) The 1" performance obligation is: The 2nd performance obligation is: (2) How should the transaction price of $30,000 be allocated between the 2 performance obligations? Show your computations in the table below: (3 points) equipment and the receipt of the remaining contract price. (8 points) (3) Prepare all necessary journal entries for Allen Corp. on July 1, 2020 upon delivery of the Cr. Dr. (4) Prepare the adjusting journal entry for Allen Corp. on December 31, 2020. (4 points) Cr. Dr