Meadow Breeze Golf Course is offering a new membership special. The membership special provides an unlimited access to golf for $875, and also provides a coupon for 20% off a golf cart annual membership. Meadow Breeze normally sells a golf membership for $960 and a cart membership for $400. Meadow Breeze expects 50% of of the cart membership coupons to be redeemed. REQUIRED: 1 2 3 Identify whether each item is a separate performance obligation For each separate performance obligation you indicated, allocate a portion of the special membership price. Prepare the journal entry to recognize a new membership sale. (Assume payment is in cash). Assume Meadow Breeze also offers a coupon package of 20 golf rounds for $500. Golf cart rental when using these 20 round coupons is $20 per golf round. Normal fees for a round of golf are $30 per golf round and $20 for a golf cart rental. REQUIRED: 4 5 6 Identify whether each item is a separate performance obligation For each separate performance obligation you indicated, allocate a portion of the coupon package price. Prepare the journal entry to recognize a coupon package sale. (Assume payment is in cash).