I. Allocate Transaction Price, Upfront Fees Tablet Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. Tablet Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Interne connection service contract is $500. The standalone selling price of the tablet is $250 (the cost to Tablet Tailors is \$175). Tablet Tailors sells the Internet access service independently for an upfront payment of $300. On January 2, 2025, Tablet Tailors signed 100 contracts, receiving a total of $50,000 in cash. 2. Tablet Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $600. Tablet Tailors provides the 3-year tablet service plan as a separate product with a standalone selling price of $150. Tablet Tailors signed 200 contracts for Tablet Bundle B on July 1,2025 , receiving a total of $120,000 in cash. Instructions: (a) Prepare any journal entries to record the revenue arrangement for Tablet Bundle A on January 2, 2025, and December 31, 2025. (b)Prepare any journal entries to record the revenue arrangement for Tablet Bundle B on July 1,2025, and December31, 2025. (c) Repeat the requirements for part (a), assuming that Tablet Tailors has no reliable data with which to estimate the stand- alone selling price for the Internet service. Standalone price per contract: Standalone Price: Tablet Standalone Price: Internet Total standalone price \begin{tabular}{|l|l|l|c|c|} \hline & \multicolumn{2}{|c|}{} & Debit & Credit \\ \hline 1 & Jul. 1 & Account Name & 120,000 & \\ \hline & & Account Name & & \\ \hline & & Account Name & & \\ \hline & & Account Name & & \\ \hline & \multicolumn{3}{|c|}{ (To record revenue and unearned revenue for Jul 1 revenue agreement.) } \\ \hline \end{tabular} Standalone price per contract: Allocated to Tablet Allocated to Internet Allocated to Tablet Service Total estimated standalone $ - \begin{tabular}{|l|c|c|c|c|} \hline \hline & Jul. 1 & Account Name & & \\ \hline & Account Name & & \\ \hline & ( To record COGS ) & & \\ \hline \end{tabular} Standalone price per contract: Allocated to Tablet Allocated to Internet Total $ \begin{tabular}{|c|c|c|c|} \hline Jul. 1 & Account Name & & \\ \hline & Account Name & & \\ \hline \end{tabular}