Motorplan $($Pty$)$ Ltd is a motor vehicle repair and maintenance company that provides vehicle owners with a three$-$year maintenance plan. The purpose of the maintenance plan is to keep the owners' vehicle running smoothly and to be covered in case of major breakdowns or repairs, which can be costly and inconvenient. The company has a $31$ December financial year$-$end. On $1$ January $2023,$ Motorplan $($Pty$)$ Ltd entered into a three$-$year maintenance contract with Mr$.$ James to provide vehicle maintenance services for a fee amounting to R$69000.$ Each maintenance service has been designed to occur at a specific time to attend to different aspects of the vehicle as it ages and thus it is imperative that the service occurs at that specific time to keep the vehicle running smoothly. Each service should be performed in chronological order as they are dependent on one another and should be performed in the correct sequence. The annual costs over the three$-$year period are summarised below: attend to different aspects of the vehicle as it ages and thus it is imperative that the service occurs at that specific time to keep the vehicle running smoothly. Each service should be performed in chronological order as they are dependent on one another and should be performed in the correct sequence. The annual costs over the three$-$year period are summarised below: Ignore any effects of financing components and time value of money. $2\mathrm{.}1)$ Determine, in terms of IFRS $15($with relevant discussions$),$ whether the three annual services are separate performance obligations. $(8$ marks$)2\mathrm{.}2)$ Allocate the transaction price according to Step $4$ of the $5-$step approach in accordance with IFRS $15$ of the International Financial Reporting Standards. $(7$ marks$)2\mathrm{.}3)$ Prepare the general journal entries that Motorplan $($Pty$)$ Ltd will record in its accounting records for the financial years ended $31$ December $2023,31$ December $2024,$ and $31$ December $2025.$ Dates and narrations are not required. Show all workings. Where applicable, round off to the nearest rand. Ignore VAT, Income tax, and cost of sales.