Bramble Company manufactures equipment. Bramble's products range 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 perform to specifications. Bramble has the following arrangement with Winkerbean Inc. Winkerbean purchases equipment from Bramble for a price of $940,000 and contracts with Bramble to install the equipment. Bramble charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Bramble determines installation service is estimated to have a standalone selling price of $55,000. The cost of the equipment is $630,000. Winkerbean is obligated to pay Bramble the $940,000 upon the delivery and installation of the equipment. Bramble delivers the equipment on June 1, 2020, and completes the installation of the equipment on September 30, 2020. 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. * Your answer is incorrect. How should the transaction price of $940,000 be allocated among the service obligations? (Do not round intermediate calculations. Round final answers to O decimal places.) Equipment Installation +A $ 893428 +A $ 46572 Prepare the journal entries for Bramble for this revenue arrangement on June 1, 2020 and September 30, 2020, assuming Bramble receives payment when installation is completed. (Credit account 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.) te 120 2020 > Account Titles and Explanation Accounts Receivable Sales Revenue Unearned Service Revenue (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) Unearned Service Revenue Service Revenue (To record service revenue) Cash Accounts Receivable (To record payment received) Debit 940,000 600,000 46,572 940,000 Credit 893,428 46,572 600,000 46,572 940,000