Instructions: Calculate and record the journal entries for all three parts, in accordance with ASC 606 for the items purchased for the customer's first 12 months Part 1: A customer purchases a mirror, a starter pack and a set of weights in a bundle on March 10. The mirror is delivered on April 1. The customer activates their subscription on April 1. Part 2: Customer decides they're unhappy and they return their mirror, weights, and starter pack on May 1. Part 3: Create a balance sheet and income statement for all stages of this process. Notes: A customer's mirror subscription is a one year commitment and is agreed to at purchase. They do not prepay for their subscription, but only agree to the commitment. Items sold in a bundle do not act independently of each other. In addition, the subscription cannot be used without the mirror. Obligations for the mirror is recognized upon delivery. Obligations for the starter pack and weights are recognized on Order Date + 5days Obligations for the subscription are recognized monthly beginning upon activation until the first 12 months are over. Assume this customer is the only customer we've ever had, thus no previous financials exist. Assume that shipping is paid to providers upon delivery Shipping for weights and the starter pack are $5 each Assume subscription cost is $5 per month and is paid immediately once cash is received for the subscription Assume there is no shipping cost to retrieve a returned mirror Key Data: Item Purchased Mirror (HW) Shipping Starter Pack Weights Subscription Total MSRP ($) Cost ($) Advertised Discount ($) Discount Recognized per ASC 606 1495.00 750.00 250.00 250.00 200.00 250.00 100.00 40.00 0.00 90.00 55.00 0.00 468.00 60.00 0.00 2403.00 Monthly subscription MSRP $39.00 500.00 0.00