2022, Sarjit Systems sold and delivered software to a customer for $120,000. As part of the contract, Sarjit also promises to provide technical support over the next seven months. Sarjit sells the same software without technical support for $100,000 and a stand-alone seven-month technical support contract for $36,000. Allocate the transaction price to each performance obligation (4 pts). a) Prepare the journal entry on Dec 1, 2022 assuming that the customer paid cash on that day ( 3 pts). Part 2 (3 pts): Thomas CPAs provides Bran Construction with assistance in implementing various cost-savings initiatives. The contract specifies that Thomas will receive a flat fee of $50,000 and an additional $20,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 60% chance that the cost-savings target will be met. Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price