Background On January 15, KH sold a mixer it purchased from MU for $80 cash and delivered itto a customer. As part of this purchase, KH issued a coupon to the customer for 8% off the $25 selling price for MU's new titanium replacement mixer blades ltis valid for 90 days. KH as not previously sold replacement mixer blades. KH's management has considered the likelihood of use and the value of the coupon and estimated a standalone selling price for these coupons at $1 Requirements Prepare a detailed explanation of each of the five steps of revenue recognition. Record al accounting entries for th transaction i RH for January 15 based on guidance on revenue recognition in ASC 606. Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journalentries