Far Horizons, Inc sells mobile phones, wreloss plans, and service plan packages. Far Horzons packages the following iterns for sale (Click the icon for sales information) Far Horizons has determined that each item is a separato performance obligation A customer purchases a new phone package on September 1 Read the requiremonts Requirement a. Determine how and when the revenue is recognized Requirement b. Prepare the journal entries for the month of September, assuming Far Horzons makes adjusting entries on Seplember 30 Begin by preparing the journal entries to record the revenue recognized (Record debits first then credits. Exclude explanations from any joumal entri Requirements a. Explain how and when revenue is recognized b. Prepare the journal entries for the month of September, assuming Far Horizons makes adjusting entries on September 30