d. Submited Required information (The following information applies to the questions displayed below] Sky Communcations (SKY) usually sells a cell phone for $344 plus 12 months of cellular service for $516 SKY has a special, time-limited offer in which it gives the phone for free and sells the 12 months of cellular service for $460 Each phone costs SKY $150, which it accounts for in its perpetual inventory system. On July 1, SKY sells one of the special packages, delivers the phone, collects the $460 cash, and starts the cellular service. 2. What journal entries would SKY record on July 1 and July 31? Not 1 Date July 011 General Journal Cash Sales Revenue Service Revenue 2 July 31 Deferred Revenue Service Revenue 00000 00 Debit 460C 00 310 Crede 104 000 ucts%252F