Exercise 6-5 (Algo) Performance obligations [LO6-2, 6-4, 6-5] On March 1, 2021, Gold Examiner receives $157,000 from a local bank and promises to deliver 106 units of certified 1-oz. gold bars on a future date. The contract states that ownership passes to the bank when Gold Examiner delivers the products to Brink's, a third-party carrier. In addition, Gold Examiner has agreed to provide a replacement shipment at no additional cost if the product is lost in transit. The stand-alone price of a gold bar is $1,410 per unit, and Gold Examiner estimates the stand-alone price of the replacement insurance service to be $90 per unit. Brink's picked up the gold bars from Gold Examiner on March 30, and delivery to the bank occurred on April 1 Required: 1. How many performance obligations are in this contract? 2. to 4. Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1 Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 How many performance obligations are in this contract? Number of performance obligations Req 2 to 4 > < Prev 2 of 10 Next > Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the receipt of cash by Gold Examiner. Note: Enter debits before credits. Date March 01 2021 General Journal Debit - Credit < Prev 2 of 10 Next >