Blossom Company manufactures equipment. Blossom's products range from simple automated machinery to complex systems containing numerous components. Unit seling prices range from $200,000 to $1,500,000 and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment to perform to specifications. Blossom has the following arrangement with Sheridan inc - Sheridan purchases equipment from Blossom on May 2,2023, for a price of $1,130,500 and contracts with Blossom to install the equipment. Blossom charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Blossom determines that the installation service is estimated to have a fair value of $59,500. The cost of the equipment is $500,000. - Sheridan is obligated to pay Blossom the $1.071,000 on delivery of the equipment and the balance on the completion of the installation. Blossom delivers the equipment on June 1,2023, and completes the installation of the equipment on September 30, 2023. Assume that the equipment and the installation are two distinct performance obligations that should be accounted for separately. (a) Alocate the transaction price of $1.130,500 among the performance obligations of the contract Assume Blossom follows IFRS. Deliveryeoulpment Installation Prepare any joumal entries for Blossom on May 2. June 1 and September 30.2023 . (Credit account tities are outomatically indented chouns Record journal entries in the order presented in the problem. List all debil entries before cradit entrias)