Martin Software Developers, Inc. recently signed a contract for $1,600,000 to create a registration, grade report and transcript system for Mac State University (its customer). Each part of the system will be delivered separately and must be fully functional upon installation. a) How many performance obligations are included in this contract? Provide an explanation to support your conclusion on the number of performance obligations. b) Martin Software Developers has stand-alone selling prices for the three systems as follows: Registration system Grade report system Transcript system $500,000 800,000 700,000 If Martin is required to allocate the transaction price across multiple performance obligations, show your analysis of this allocation and resulting prices for each performance obligation c) Prepare journal entries for the following related transactions (ignoring costs to produce the systems): March 13, 2018: May 26, 2018: July 10, 2018: August 29, 2018: Mac pays $800,000 to Martin as an initial payment on this contract. Martin installs the Registration system for Mac and receives $200,000. Martin installs the Grade report system for Mac. No cash received. Martin installs the Transcript system for Mac and receives $500,000