Nash Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hotspot. It offers two bundles with the following terms. 1. Nash Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $506. The standalone selling price of the tablet is $269 (the cost to Nash Company is $158). Nash Company sells the Internet access service independently for an upfront payment of $285. On January 2, 2020, Nash Company signed 100 contracts, receiving a total of $50,600 in cash. Nash Bundle Bincludes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $598. Nash Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $157. Nash Company signed 220 contracts for Nash Bundle B on July 1, 2020, receiving a total of $131,560 in cash. 2. In response to competitive pressure for Internet access for Nash Bundle A, after 2 years of the 3-year contract, Nash Company offers a modified contract and extension incentive. The extended contract services are similar to those provided in the first 2 years of the contract. Signing the extension and paying $82 (which equals the standalone selling of the revised Internet service package) extends access for 2 more years of Internet connection. 50 Nash Bundle A customers sign up for this offer. Your answer is correct. Prepare the journal entry when the contract is signed on January 2, 2022, for the 50 extended contracts. Assume the modification does not result in a separate performance obligation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter Ofor the amounts.) Debit Credit Account Titles and Explanation Cash 4100 Unearned Service Revenue 4100 Your answer is partially correct. Prepare the journal entry on December 31, 2022, for the 50 extended contracts (the first year of the revised 3-year contract). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Round answers to decimal places, e.g. 5,125.) Debit Credit Account Titles and Explanation Unearned Service Revenue 1367 Service Revenue 1367