Baldi Piano manufactures customized pianos for concert halls. On July 1, 2021, Baldi signed a contract to deliver a concert piano for $150,000. Under the contract, Baldi is also obligated to provide a one-year maintenance service. If sold separately, the piano and the maintenance service would have cost $140,000 and $20,000, respectively. How much of the transaction price would be allocated to the piano and the maintenance service, assuming they are separate performance obligations? Record the journal entry pertaining to the contract on July 1, 2021 assuming that the piano is delivered on that date and the sale is on account