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Allocating Transaction Price to Performance Obligations and Recording Sales Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Note: If
Allocating Transaction Price to Performance Obligations and Recording Sales
Note: Carry all decimals in calculations; round the final answer to the nearest dollar.
Note: If a journal entry or a line of the journal entry isn't required for the transaction, select NA as the account names and leave the Dr and Cr answers blank zero
a How should the transaction price be allocated among the performance obligations
tabletablePerformanceObligationsTransaction Price as Stated,Standalone Selling Price Allocated Transaction Price roundedSoftware$Customer support,$$
b Prepare Software Supplier's journal entry to record sale of software to the customer and the entry for the first monthly payment.
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