Jesse$$s Pool sells a special family season pass package for $$500.$ The package allows unlimited use of the indoor pool from Oct. $1,2023$ to May $31,2024(8$ months$)$; the pass normally sells $$400.$ In addition, the purchaser gets $3$ towels that would normally sell for $$100.$ And lastly the package includes $10$ coupons that give $30\%$ off purchases of food while at Jesse$$s Pool. It is expected that $80\%$ of the coupons will be used, and the average purchase would be $$25.$ Jessie sold $10$ packages on $10/1/2023$ giving the passes, towels and coupons to the purchasers. By the end of the year, $20$ of the $100$ coupons had been redeemed $($Jessie records the revenue in adjusting entries$).($round to the nearest $$1)$

Instructions: Record the $(1)$ sale of the $10$ packages on Oct $1.$ Be sure to show your work.

Work $($required and graded$)$

Identify the Performance Obligations $($PO$$s$)$:

What value is allocated to each of these PO$$s$?$

Oct $1$ Entry Acct and Amount Debit Account and Amount Credit

Record the adjusting entry as of $12/31.$ Work for recognition of deferred revenue?

Dec $31$ Entry Acct and Amount Debit Account and Amount Credit