How should the transaction price of \\( \\$ 991,800 \\) be allocated among the performance obligations? (Do not round intermediate calculations. Round final answers to 0 decimal places, eg. 5,275.) Equipment Installation Prepare the journal entries for Ivanhoe for this revenue arrangement on June 1,2025 , assuming Ivanhoe receives payment when installation is completed. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select \"No entry\" for the occount titles and enter O for the amounts. Uist all debit entries before credit entries. Round final answers to 0 decimal places, eg. 5,275. Ivanhoe Company manufactures products ranging from simple automated machinery to complex systems containing numerous components. Unit selling prices range from \\( \\$ 200,000 \\) to \\( \\$ 1,500,000 \\) and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Ivanhoe has the following arrangement with Kingbird Inc. - Kingbird purchases equipment from Ivanhoe for a price of \\( \\$ 991,800 \\) and contracts with Ivanhoe to install the equipment. Ivanhoe charges the same price for the equipment irrespective of whether it does the installation or not. The cost of the equipment is \\( \\$ 601,000 \\). - Kingbird is obligated to pay Ivanhoe the \\( \\$ 991,800 \\) upon the delivery of the equipment. Ivanhoe delivers the equipment on June 1,2025, and completes the installation of the equipment on September 30, 2025. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations. which should be accounted for separately. Assuming Ivanhoe does not have market data with which to determine the standalone selling price of the installation services. As a result, an expected cost plus margin approach is used. The cost of installation is \\( \\$ 41,760 \\); Ivanhoe prices these services with a \25 margin relative to cost