Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling SunBoots" to customers for 70 per pair. When a customer purchases a pair of SunBoots. Clarks also gives the customer a 30% discount coupon or any additi nal future purchases made irn approximately 20% of customers will utilize the coupon, and that on average those customers will purchase additional normally sell for $100. the next 30 days. Customers can't obtain the discount coupon otherwise. Clarks anticipates that goods that Required: 1. How many performance obligations are in a contract to buy a pair of SunBoots? 2. Piepare a journal entry to record revenue for the sale of 1.000 pairs of SunBoots, assuming that Clarks uses the residual method to estimate the stand-alone selling price of SunBoots sold without the discount coupon. Complete this question by entering your answers in the tabs below. How many performance obligations are in a contract to buy a pair of SunBoots? Required 2 6 of 9 Next >