Accounting for Upfront Fees and Recording and Allocating Revenue Charter X inc establishes a contract with a customer to deliver both a cable television receiver (equipment) and cable television service for 15 months, in exchange, the customer pays a $375 upfront fee for installation of the cable television receiver (which must be returned to Charter Inc. at the end of the contract term) and pays $400 a month for the premium package of 200+ channels. The $375 upfront fee has no standalone selling price as it is not sold separately. The $400 charge per month for cable services is at its standalone selling price. The company has determined that the contract for the receiver is not a lease. Required b. Charter X inc. also offers a bundled package where a customer receives the 15 -month cable subscription (and cable television receiver) along with an internet connection for an upfront fee of $375 plus $500 a month (stated to the customer as $400 per month for cable service. and an additional $100 per month for internet service). The standalone selling price of the internet connection is $200 per month. (1) How many performance obligations are established in the revenue contract? (3) Record the entry by the seller one month after initiation of the contract