i have the answers to this but i am unsure of how my teacher got them.... could i have answers and explanation?

ACCT 3113 Supplemental Homework 18 Chapters 6 - Revenue Recognition On Oct.1, 2022, Wells Wellness, a luxury Spa and resort, received $70,000 dollars from the sale of 20 of their limited-edition Spa packages at a price of $3,500 each. Within the package the customer receives: a. 60-minute massage every month for the next 12 months ( 12 massages total) b. Spa goody bag with hair products and essential oils (delivered to customer the day of purchase) c. Coupon for 50% off a Wellness Retreat scheduled for February 1,2023 Items A and B have standalone selling prices of $1,800 (12 massages) and $200 (Spa goody bag). The company estimates only a 40% probability that the coupons will be exercised. The Wellness Retreat has a standard retall price of $2,000. In addition to the purchase price detailed above, the customer had to pay a nonrefundable registration fee for the Wellness Retreat of $100/ package. Requirement 1: Determine the Transaction Price. Requirement 2: Prepare the journal entry to record the sale of the packages on Oct. 1, 2022. Requirement 3: Prepare any adjusting entries recorded on Dec. 31, 2022, if any, related to the sale of the spa packages above. Requirement 4; What amounts will Wells Wellness report on its 2022 Financial Statements? (lgnore COGS/Cash) Income Statement ACCT 3113 Supplemental Homework 18 Chapters 6 - Revenue Recognition On Oct.1, 2022, Wells Wellness, a luxury Spa and resort, received $70,000 dollars from the sale of 20 of their limited-edition Spa packages at a price of $3,500 each. Within the package the customer receives: a. 60-minute massage every month for the next 12 months ( 12 massages total) b. Spa goody bag with hair products and essential oils (delivered to customer the day of purchase) c. Coupon for 50% off a Wellness Retreat scheduled for February 1,2023 Items A and B have standalone selling prices of $1,800 (12 massages) and $200 (Spa goody bag). The company estimates only a 40% probability that the coupons will be exercised. The Wellness Retreat has a standard retall price of $2,000. In addition to the purchase price detailed above, the customer had to pay a nonrefundable registration fee for the Wellness Retreat of $100/ package. Requirement 1: Determine the Transaction Price. Requirement 2: Prepare the journal entry to record the sale of the packages on Oct. 1, 2022. Requirement 3: Prepare any adjusting entries recorded on Dec. 31, 2022, if any, related to the sale of the spa packages above. Requirement 4; What amounts will Wells Wellness report on its 2022 Financial Statements? (lgnore COGS/Cash) Income Statement