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Assume Meadow Breeze also offers a coupon package of 20 golf rounds for $500. Golf cart rental when using these 20 round coupons is $20
Assume Meadow Breeze also offers a coupon package of 20 golf rounds for $500. | ||||||||
Golf cart rental when using these 20 round coupons is $20 per golf round. | ||||||||
Normal fees for a round of golf are $30 per golf round and $20 for a golf cart | ||||||||
rental. | ||||||||
REQUIRED: | ||||||||
4 | Identify whether each item is a separate performance obligation | |||||||
5 | For each separate performance obligation you indicated, allocate | |||||||
a portion of the coupon package price. | ||||||||
6 | Prepare the journal entry to recognize a coupon package sale. (Assume | |||||||
payment is in cash). |
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