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Check my work 4 Exercise 6-11 (Algo) Variable consideration expected value; change in estimate (LO6-3, 6-6] - Rocky Guide Service provides guided 1-5 day hiking

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Check my work 4 Exercise 6-11 (Algo) Variable consideration expected value; change in estimate (LO6-3, 6-6] - Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains Widerness Tourses Rocky to lead Various tours that Wilderness sells Rocky receives $2.400 per tour day, and shortly after the end of each month Rocky ears whether it will receive a $240 bonus per tour day it quided during the previous month of its service during that month received an average evaluation of excellent by Wilderness customers. The $2,400 per day and any bonus due are paid in one lump payment shortly after the end of each month BOOK Pret les . On July 1, based on prior experience. Rocky estimated there is a 30% chance it will cam the bonus for July tours i quded a total 10 days from July - July 15 . On July 16, based on Rocky's view that it had provided excellent service during the first part of the month Rocky revised its estimate to an 80% chance it would earn the bonus for July tours, Rocky also guided customers for 15 days from July 16-July 31 . On August 5 Rocky learned it did not receive an average evaluation of excellent for its July tours, so it would not receive any bonus for July, and received all payment due for the July tours Rocky bases estimates of variable consideration on the expected value st expects to receive Required: 1. to 3. Prepare the journal entries to record the transactions above of no entry is required for a transaction event, select "No journal entry required in the first account field. How conlist UNT Journal entry worksheet 1 2 3 4 ook Prepare Rocky's July 15 journal entry to record revenue for tours given from July 1 - July 15. ht ences Note: Enter debits before credits Date General Journal Debit Credit July 15 Clear entry View general Journal Record entry Help View transaction list Journal entry worksheet Prepare Rocky's July 31 journal entry to record revenue for tours given from July 16 - July 31 and any adjustment needed for July 1 - July 15. Notel Enter debits before credits General Journal Debit Credit Date July 31 View general al Charent Record entry View transaction list Crew Journal entry worksheet 2 OOK Prepare Rocky's August 5 journal entry to record the receipt of payment from Wilderness ences Note: Enter debits before credits Date General Journal Debit Credh August 05 View general Journal Clear entry Record entry New 41011 Next > 7 View transaction list Orew Journal entry worksheet

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