How many performance obligations are in this contract?

Prepare the journal entry that Meta would record on May $1,2024.$

Assume the same facts and circumstances as above, except that Meta gives a $5\%$ discount option to Bionics instead of $25\%.$ In

this case, what journal entry would Meto record on Moy $1,2024?$

Complete this question by entering your answers in the tabs below.

Prepare the journal entry that Meta would record on May $1,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

A

Record the entry for Meta on May $1,2024.$

Note: Enter debits before credits. How many performance obligations are in this contract?

Prepare the journal entry that Meto would record on May $1,2024$

Assume the some focts ond circumstonces as obove, except thot Meto gives a $5\%$ discount option to Bionics instead of $25\%.$ In

this case, what joumal entry would Meta record on May $1,2024?$

Complete this question by entering your answers in the tabs below.

Assume the same facts and circumstances as above, except that Meta gives a $5\%$ discount option to Bionics instead of $25\%.$ In this

case, what journal entry would Meta record on May $1,2024?$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

A

Record the entry for Meta on May $1,2021$ assuming that Meta gives a $5\%$

discount option to Bionics instead of $25\%.$

Note: Enter debits before crests. On Moy $1,2024,$ Meto Computer, Incorporoted, enters into a controct to sell $6\mathrm{.}000$ units of Comfort Office Keyboard to one of its

clients, Bionics, Incorporated, of o fixed price of $$106,800,$ to be settled by o cash poyment on Moy $1.$ Delivery is scheduled for June $1,$

As part of the contract, the seller offers a $25\%$ discount coupon to Bionics for any purchases in the next slx months. The seller

will continue to offer a $5\%$ discount on all soles during the some time period, which will be ovalloble to all customers. Bosed on

experience, Meta Computer estimates a $50\%$ probability that Blonics will redeem the $25\%$ discount voucher and that the coupon will

be applied to $$12,000$ of purchases. The stand$-$alone selling price for the Comfort Office Keyboard is $$19\mathrm{.}80$ per unit.

Required:

How many performance obligations are in this contract?

Prepore the journal entry that Meto would record on Moy $1,2024.$

Assume the same facts and circumstances as above, except that Meto gives a $5\%$ discount option to Bionics instead of $25\%.$ In

this case, what journal entry would Meta record on Mey $1,2024?$

Complete this question by entering your answers in the tabs below.

How many performance obligations are in this contract?