Complete this question by entering your answers in the tabs below. Required Required 2 Prepare 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 stand-alone selling price of SunBoots sold without the discount coupon. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet Record the revenue for the sale of 1,300 pairs of SunBoots Note: Enter debits before credits. Transaction |Debit Credit General Journal Record entry Clear entry View general journal 15 Exercise 5-6 Performance obligations; customer option for additional goods or services [LO5-2, 5-4, 5-5] 10 points 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 20% discount coupon for any additional 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 normally sell for $150. eBook Required 1. How many performance obligations are in a contract to buy a pair of SunBoots? 2. Prepare a journal entry to record revenue for the sale of 1,300 pairs of SunBoots, assuming that Clarks uses the References 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 Required Required How many performance obligations are in a contract to buy a pair of SunBoots? 2 umber of performance obligations