Chapter 5 Discount coupon included in contract (2 pts.) Saved On May 1, 2018, Meta Computer, Inc., enters into a contract to sell 6,000 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $102,000, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2018. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months The seller wil continue to offer a 5% discount on all sales during the same time period, which will be available to al customers. Based on experience. Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon vill be applied to S50,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit. 2 points Required: 1. How many performance obligations are in this contract? 2.&3. Prepare the journal entry that Meta would record on May 1, 2018. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. Complete this question by entering your answers in the tabs below Req1 Req 2 and 3 How many performance obligations are in this contract? Number o fperformance obligations Req Req 2 and 3> Chapter 5 Discount coupon included in contract (2 pts.) Saved On May 1, 2018, Meta Computer, Inc., enters into a contract to sell 6,000 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $102,000, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2018. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months The seller wil continue to offer a 5% discount on all sales during the same time period, which will be available to al customers. Based on experience. Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon vill be applied to S50,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit. 2 points Required: 1. How many performance obligations are in this contract? 2.&3. Prepare the journal entry that Meta would record on May 1, 2018. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. Complete this question by entering your answers in the tabs below Req1 Req 2 and 3 How many performance obligations are in this contract? Number o fperformance obligations Req Req 2 and 3>