Exercise 18A-9 Sanchez Co. enters into a contract to sell Product A and Product B on January 2, 2014, for an upfront cash payment of $225,000. Product A Will 2016) and Product B will be delivered in 5 years (anuary 2, 2019). Sanchez Co. allocates the $225,000 to products A and B on a relative standa Allocated Standalone selling prices Allocated Amount 60,000 roduct A 25% 56,250 roduct B 75% 180,000 168,750 $225,000 240,000 anchez Co. uses an interest rate of 6%, which is its incremental borrowing rate. int: Gven the (discounted) upfront payment, accretion of the contract liability will need to be recorded.) epare the journal entries necessary and December 31, 2014. (If no entry is required, select "No Entry" for the ad mounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answer Credit Debit Account Titles and Explanation Date January 2, 2014 tember 31, 2014 Sales Revenue)