need help with 2nd part

Pharoah inc. has a customer loyalty program that rewards a customer with 1 customer loyalty point for every $10 of purchases. Each point is redeemable for a $3 discount on any future purchases. On July 2.2025 , customers purchase products for $370,000 (with a cost of $210,900) and earn 37,000 points redeemable for future purchases. Pharoah opects 31,500 points to be redeemed. Pharoah estimates a standalone selling price of $2.50 per point (ar $92.500 total) on the basis of the likelihood of redemption. The points provide a material right to customers that they would not receive without entering into a contract. As a result. Pharoah concludes that the points are a separate performance obligation. (a) Determine the transaction price for the product and the customer layalty points. Product purchases Loyalty points Total transaction price $ eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Prepare the journal entries to record the sale of the product and related points on July 2.2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entyy as requintd select "No entry" for the accaunt titles and enter 0 for the amounts (ist all debit entries before credit entries)