Crane Company manufactures equipment. Crane's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $225,000 to $1,500,000, and are quoted inclusive of installation. The installation process does not irvolve changes to the features of the equipment to perform to specifications. Crane has the following arrangement with Shamrock lnc. - Shamrock purchases equipment from Crane on May 2, 2023, for a price of $997,500 and contracts with Crane to install the equipment. Crane charges the same prige for the equipment irrespective of whether it does the installation or not. Using market data, Crane determines that the installation service is estimated to have a fair value of $52.500. The cost of ther equipment is $500,000. - Shamrock is obligated to pay Crane the $945,000 on delivery of the equipment and the balance on the completion of the installation. Crane defivers the equipment on June 1, 2023, and completes the installation of the equipment on September 30, 2023, Assume that the equipment and the installation are two distinct performance obligations that should be accounted for separately. Allocate the transaction price of $997,500 among the performance obligations of the contract. Assume Crane follows IFRS. (Round percentage allocations to 2 decimal places, e.8. 12.25\% and final answers to 0 decimal places, es. 5,275) Delivery equipment Installation List of Accounts Attempts: 3 of 5 used 6. Youranswer is partially correct. Prepare any journal entries for Crane on May 2, June 1, and September 30, 2023. (Credit account titles are outomatically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List alf debit entrles before credit entries.)