Master Grill Company sells outdoor grilling products, providing gas and charcoal grills, accessories, and installation services for custom patio grilling stations. Master Grill offers contract MG100 which is comprised of a free-standing gas grill for small patio use plus installation to a customers gas line for a total price $1,150. On a standalone basis, the grill sells for $850 (cost $650), and Master Grill estimates that the fair value of the installation service is $400. Master Grill signed 20 MG100 contracts on May 30, 2021, and customers paid the contract price in cash. The grills were delivered and installed on June 15, 2021.

Instructions:

1. Allocate the contract price to the two separate performance obligations.

2. Prepare journal entries for Master Grill for MG100 in May and June 2021.