A company sells small research submarines. They also provide training on how to use the submarine if customers require it. The stand-alone selling prices for the submarine and training are as follows: $850,000 Submarine Training 120,000 If a customer chooses to purchase both at the same time, the selling price is $950,000. Customers sign a contract with the entity when the payment is made. Required - Using the 5 step analysis to recognize revenue, how would you recognize the revenue of a sale the two product bundle. For Step 5, write out the journal entries that would be required on the day the contract is signed and subsequent to that date