6 Return to question Exercise 6-8 (Algo) Performance obligations; customer option for additional goods or services (L06-4, 6- 5) 17 po On May 1, 2021 Meta Computer Incenters into a contract to sell 4,500 units of Comfort Office Keyboard to one of its clients. Bionics, Inc., at a fixed price of $75.600. to be sented by a cash payment on May 1 Delivery is scheduled for June 12021. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience. Mesa Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher and that the coupon will be applied to $54,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard $18.80 per unit Required: 1. How many performance obligations are in this contract 2. Prepare the journal entry that Mets would record on May 1, 2021 3. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionic instead of 25% to the case, wat journal entry would Meta record on May 1 20277 Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry that Meta would record on May 1, 2021. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) No Transaction Credit Debit 75,600 1 General Journal Cash Deferred revenue Deferred revenue - coupons OOO 67,042% 8,558 X b Complete this question by entering your answers in the tabs below. 7 Gints Required 1 Required 2 Required 3 Assume the same facts and circumstances as above, except that Meta gives a discount on todo 25%. In this case, what joumal entry would Meta record on May 1, 2017 (If no entre for at select "No journal entry required in the first account field No Transaction General Journal Dhe 1 Cash 75.000 Deferred revenue-coupons 2 75.000