Charter Inc. establishes a contract with a customer to deliver both a cable television receiver (equipment) and cable television service for 15 months. In exchange, the customer pays a $90 upfront fee for installation of the cable television receiver (which must be returned to Charter) Inc. at the end of the contract term) and pays $96 a month for the premium package of 200+ channels. The $90 upfront fee has no standalone selling price as it is not sold separately. The $96 charge per month for cable services is at its standalone selling price. The company has determined that the contract for the receiver is not a lease. Required Part B a. (1) How many performance obligations are established in the revenue contract? (2) Record the entry by the seller at the initiation of the contract assuming 100 contracts are initiated. (3) Record the entry by the seller one month after initiation of the contract. b. CharterX Inc. also offers a bundled package where a customer receives the 15 -month cable subscription (and cable television receiver) along with an internet connection for an upfront fee of $90 plus $120 a month (stated to the customer as $96 per month for cable service, and an additional $24 per month for internet service). The standalone selling price of the internet connection is $48 per month. (1) How many performance obligations are established in the revenue contract? (2) Record the entry by the seller at the initiation of the contract assuming 100 new customers sign up for the bundled option. (3) Record the entry by the seller one month after initiation of the contract