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b) Pacifica Fitness Ltd sold 14 packages advance and receive first payment on 30 May 2023. The reporting period is 30 June 2023. Provide the accounting entries to record the receipt of the cash and the subsequent reporting date adjustment. 30 May 2023 Debit/Credit Description Debit Amount Credit Amount Enter amount Enter amount V Enter amount Enter amount 30 June 2023 Debit/Credit Description Debit Amount Credit Amount V Enter amount Enter amount Enter amount Enter amount c) What is the balance of revenue and liability account impacted by the above transaction (item b) at 30 August 2023. Description Total Enter amount Enter amount Pacifica Fitness Ltd is marketing a 'fitness package' in which, for $420, it provides customers with a 6-month gym membership (which retails separately for $530, a gym bag (which retails separately for $35) and five free zumba classes (which retail separately for 64). You are required to determine: (10 marks) a) Separate performance obligations and how much of the transaction price to allocate to each performance obligation. Stand-alone Discount Allocated Good or Service Price Allocation Amount Enter amount Enter amount Enter amount Enter amount Enter amount Enter amount Gym Membership Gym Bag Zumba Classes Enter amount Enter amount Enter amount Total Enter total Enter total Enter total b) Pacifica Fitness Ltd sold 14 packages advance and receive first payment on 30 May 2023. The reporting period is 30 June 2023. Provide the accounting entries to record the receipt of the cash and the subsequent reporting date adjustment. 30 May 2023 Debit/Credit Description Debit Amount Credit Amount Enter amount Enter amount Enter amount Enter amount Cash At Bank Revenue In Advance 30 June 2023 Debit/Credit Description Debit Amount Credit Amount V Enter amount Enter amount Enter amount Enter amount b) Pacifica Fitness Ltd sold 14 packages advance and receive first payment on 30 May 2023. The reporting peri is 30 June 2023. Provide the accounting entries to record the receipt of the cash and the subsequent reportin date adjustment. 30 May 2023 Debit/Credit Description Debit Amount Credit Amount V Enter amount Enter amount V V Enter amount Enter amount 30 June 2023 Debit/Credit Description Debit Amount Credit Amount Enter amount Enter amount Enter amount Enter amount Revenue In Advance Revenue b) Pacifica Fitness Ltd sold 14 packages advance and receive first payment on 30 May 2023. The reporting pe is 30 June 2023. Provide the accounting entries to record the receipt of the cash and the subsequent repor date adjustment. 30 May 2023 Debit/Credit Description Debit Amount Credit Amount Enter amount Enter amount Enter amount Enter amount 30 June 2023 Debit/Credit Description Debit Amount Credit Amount V Enter amount Enter amount Enter amount Debit Credit Enter amount b) Pacifica Fitness Ltd sold 14 packages advance and receive first payment on 30 May 2023. The reporting pe is 30 June 2023. Provide the accounting entries to record the receipt of the cash and the subsequent repor date adjustment. 30 May 2023 Debit/Credit Description Debit Amount Credit Amount Enter amount Enter amount V Enter amount Enter amount 30 June 2023 Debit/Credit Description Debit Amount Credit Amount V Enter amount Enter amount V Enter amount Enter amount Debit Credit Enter amount Enter amount c) What is the balance of revenue and liability account impacted by the above transaction (item b) 2023. Description Total Enter amount Liability Revenue Enter amount