Clarks Inc, a shoe retailer, sells boots in different styles. In early November the company starts selling 'SunBoots" to customers for $60 per palr. When a customer purchases a pair of SunBoots Clarks also gives the customer a 20% discount coupon for any aditional future purchases made in the next 30 days Customers can't obtain the discount coupon otherwise Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional goods that nomally sell for $150 Required: 1. How many performance obligations are in a contract to buy a pair of SunBoots? 2. Assume Clarks cannot estimate the standalone selling price of a pair of SunBoots sold without a coupon. Prepare a journal entry to record revenue for the sale of 1.600 pals of SunBoots. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume Clarks cannot estimate the standalone selling price of a pair of SunBoots sold without a coupon, Prepare a journal entry to record revenue for the sale of 1,600 pairs of SunBoots (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Required 1 Required 2 Assume Clarks cannot estimate the standalone selling price of a pair of SunBoots sold without a coupon. Prepare a fournal entry to record revenue for the sale of 1,600 pairs of SunBoots. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the revenue for the sale of 1.600 pairs of Suntoots Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry 98 o BP G C