A New York City daily newspaper called Manhattan Today charges an annual subscription fee of \$135. Custorners prepay their subsctiptions and receive 260 issues over the year. To attract more subscribers, the company offered new subscribers the ability to pay $130 for an anrual subscription that also would include a coupon to recelve a 40% discount on a one-hour ride through Centra! Park in a horse-drawn carriage. The list price of a carriage ride is $125 per hour. The company estimates that approximately 30% of the coupons will be redeemed. Required: 1. How much reverue should Manhattan Today recognize upon receipt of the $130 subscription price? 2. How many performance obtlgations exist in this contract? 3. Prepate the joumal entry to recognize sale of 10 new subscriptions, clearly identifying the revenue or deferred revenue associated with each performance obligation: Complete this question by entering your answers in the tabs below. 1. Kow much revernes should Marihattan Yoday recognize upen receipt of the \$130 subsctiption price? 2. How many performance obligations exkt in this coetroct? Prepare the journal entry to recognize sale of 10 new subscriptions, clearly identifying the revenue or deferred revenue associated with each performance obligation. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet