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HELP ASAP! 5 Creative Computing sells a tablet computer called the Protab. The $740 sales price of a Protab Package includes the following . One
HELP ASAP!
5 Creative Computing sells a tablet computer called the Protab. The $740 sales price of a Protab Package includes the following . One Protab computer . A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements 10 points associated with defective products for up to six months . A coupon to purchase a Creative Probook e-book reader for $225, a price that represents a 40% discount from the regular Probook price of $375. It is expected that 20% of the discount coupons will be utilized . A coupon to purchase a one-year extended warranty for $70. Customers can buy the extended warranty for $100 at other times if they do not use the $70 coupon. Creative estimates that 40% of customers will purchase an extended warranty. . Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $720. Required: 1.& 2 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 100,000 Packages to the separate performance obligations in the contract 3. Prepare a journal entry to record sales of 100,000 Protab Packages (ignore any sales of extended warranties) Complete this question by entering your answers in the tabs below Req 1 and2 Req 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 100,000 Protab to the separate performance obligations in the contract Item Descrption Limited 6-month warranty Option to purchase a Pro 3. Prepare a journal entry to record sales of 100,000 Protab Packages (ignore any sales of extended warranties). 10 Req 1 and 2 R Req 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 100,000 Protab Item Obli Stand Alone Price 5 Req 1 and 2 Req 3 Prepare a journal entry to record sales of 100,000 Protab Packages (ignore any sales of extended warranties). (If no entry is required for a transaction/event, select 'No journal entry required" in the first account field.) 10 Journal entry worksheet Record the sales of 100,000 Protab Packages General Journal Debit Clear entry Req 1 and 2Step by Step Solution
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