Jonas Concuiting enters into a conttect to provide cost management coneuting gervices cuer a 1-year period tor 510,000 per month. At the end of the contract, Jonas wil ethet give the castarner a 524,000 refund or be entitied to an idditional $24,000, depending on the lovel of cost savings. The company bolieves there is an 30 's chance that it will be entited in an additional $24,000 and a 20% chance it wal plee a retund of 524,000 . In addition jonas beleves it is pecbablo that a significant reversal of any priviously recegrezed ritinnum mil net occur. The contract pedomnance is delermined to be satisfied over time. Requiredt 1. Defermine fhe monthy transaction prioe that vonas should use for rocording the contract and propove donas's joumal anty at the end of the fist month of the contract using the most Bkely amount approwch. 2. Next Level What is the objective of determining the transaction pvice based on the amount of variable consideratba? Analysis. fa. Delermine the mantily transaction price that Jonas should use for recording the contract using the mosf fikey amount approach. Monthly transaction price Genaral Joumat 16. Prepare the joumat enty on January 31 to recond the first month of the contract using the most akely amount approach. th. Prepare the joumal anty on vanuary 31 to rocord the first inanth of the contract using the most ikely ainount approach. Gimencibidowal litstactons Next Level 2. What is the objective of delermining the bansaction price based on ihe amount of variable contideration? In determining the transaction price, the seler is aftempting to measure the amount of providing the premised geods or tervices