Creative Computing sells a tablet computer called the Protab. The $620 sales price of a Protab Package includes the following One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $350, a price that represents a 30% discount from the regular Probook price of $500. It is expected that 20% of the discount coupons will be utlized. A coupon to purchase a one-year extended warranty for $40. Customers can buy the extended warranty for $65 at other times if they do not use the $40 coupon. Creative estimates that 45% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but etimates that if it did so, a Protab alone would sell for $600. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 120,000 Protab Packages. Complete this question by entering your answers in the tabs below. Req i and 2 Reg 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Reg 1 and 2 Req 3 Indicate below whether each Item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Percentage of Total Stand Alone Price Performance Item Descrption Obligation? Stand Alone Price Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 0. 0.00% Total stand alone price Percentage of Total Stand Alone Price Total Transaction Price Allocated Contract Price Item Descrption Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 24 Total contract price Req 3 > Req 1 and 2 Reg 3 Prepare a Journal entry to record sales of 120,000 Protab Packages. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1. Cash Sales revenue Deferred revenue coupons Deferred revenue - extended warranties Creative Computing sells a tablet computer called the Protab. The $620 sales price of a Protab Package includes the following One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $350, a price that represents a 30% discount from the regular Probook price of $500. It is expected that 20% of the discount coupons will be utlized. A coupon to purchase a one-year extended warranty for $40. Customers can buy the extended warranty for $65 at other times if they do not use the $40 coupon. Creative estimates that 45% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but etimates that if it did so, a Protab alone would sell for $600. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 120,000 Protab Packages. Complete this question by entering your answers in the tabs below. Req i and 2 Reg 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Reg 1 and 2 Req 3 Indicate below whether each Item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Percentage of Total Stand Alone Price Performance Item Descrption Obligation? Stand Alone Price Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 0. 0.00% Total stand alone price Percentage of Total Stand Alone Price Total Transaction Price Allocated Contract Price Item Descrption Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 24 Total contract price Req 3 > Req 1 and 2 Reg 3 Prepare a Journal entry to record sales of 120,000 Protab Packages. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1. Cash Sales revenue Deferred revenue coupons Deferred revenue - extended warranties Creative Computing sells a tablet computer called the Protab. The $620 sales price of a Protab Package includes the following One Protab computer. A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $350, a price that represents a 30% discount from the regular Probook price of $500. It is expected that 20% of the discount coupons will be utlized. A coupon to purchase a one-year extended warranty for $40. Customers can buy the extended warranty for $65 at other times if they do not use the $40 coupon. Creative estimates that 45% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but etimates that if it did so, a Protab alone would sell for $600. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 120,000 Protab Packages. Complete this question by entering your answers in the tabs below. Req i and 2 Reg 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Reg 1 and 2 Req 3 Indicate below whether each Item is a separate performance obligation and allocate the transaction price of 120,000 Protab Packages to the separate performance obligations in the contract. Percentage of Total Stand Alone Price Performance Item Descrption Obligation? Stand Alone Price Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 0. 0.00% Total stand alone price Percentage of Total Stand Alone Price Total Transaction Price Allocated Contract Price Item Descrption Protab tablet Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty 24 Total contract price Req 3 > Req 1 and 2 Reg 3 Prepare a Journal entry to record sales of 120,000 Protab Packages. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1. Cash Sales revenue Deferred revenue coupons Deferred revenue - extended warranties