Blossom Company manufactures products ranging from simple automated machinery to complex systems containing numerous components. Unit selling 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 and does not require proprietary information about the equipment in order for the installed equipment to periorm to specifications. Blossom has the following arrangement with Sheridan Inc. - Sheridan purchases equipment from Blossom for a price of $926,400 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 installation service is estimated to have a standalone selling price of $38,600. The cost of the equipment is $640,000. - Sheridan is obligated to pay Blossom the $926,400 upon the delivery of the equipment. Blossom delivers the equipment on June 1, 2025, and completes the installation of the equipment on September 30, 2025. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations which should be accounted for separately. How should the transaction price of $926,400 be allocated among the performance obligations? (Do not round intermediate calculations. Round final answers to 0 decimal places, eg. 5,275.) Equipment Installation Prepare the journal entries for Blossom for this revenue arrangement on June 1, 2025 and September 30, 2025, assumins Blossom recelves payment when installation is completed. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts, List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, es 5,275