A New York City daily newspaper called Manhattan Today' charges an annual subscription fee of $486. Customers prepay their subscriptions and receive 250 issues over the year. To attract more subscribers, the company offered new subscribers the ability to pay $460 for an annual subscription that also would include a coupon to receive a 40% discount on a one hour ride through Central Park in a horse-drawn carrlage. The list price of a carriage ride is $450 per hout. The company estimates that approximately 30% of the coupons will be redeemed Required: 1. How much revenue should Manhattan Today recognize upon receipt of the $160 subscription price? 2. How many performance obligations exist in this contract? 3. Prepare the journal entry to recognize sale of 13 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. Req 1 and 2 Reg 3 Prepare the journal entry to recognize sale of 13 new subscriptions, clearly identifying the revenue or deferred revenue associated with each performance obligation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) View transaction list View journal entry worksheet No Transaction Credit Dobit 5,980 General Journal Cash No journal entry required 1 5,980 Required: 1. How much revenue should Manhattan Today recognize upon receipt of the $460 subscription p 2. How many performance obligations exist in this contract? 3. Prepare the journal entry to recognize sale of 13 new subscriptions, clearly identifying the revenu with each performance obligation. Complete this question by entering your answers in the tabs below. Req 1 anche Reg 3 1. How much revenue should Manhattan Today recognize upon receipt of the $460 subscription price? 2. How many performance obligations exist in this contract? 1. Revenue 2 Number of performance obligations Req 1 and 2 Req3 >