Clatks incorporated, a shoe retailer, sells boots in different styles in early November the company starts selling "SunBoots" to customers for $60 per pair. When a customer purchases a pair of SunBoots, Clarks also glves the customer a 20 discount coupon for any additional future purchases made in the next 30 days. Customers cant obtain the discount coupon otherwise. Clarks anticipates that appioximately 105 of customers will utilize the coupon, and that on average those customers will purchase additional goods that normaliy seli for $350 Required: 1. How many performance obligations are in a contract to buy a pair of SunBoots? 2. Assume Clatks cannot estimate the stand-alone selling price of a pair of SunBoots sold without a coupon. Prepate a journal entry to record revenue for the sale of 1,300 pairs of SunBoots, assuming that Clarks uses the residual method to estimate the standalone selling price of 5 unBoots 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 Sunsoots