On January 1, 2019, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 GB data wireless plan for $65 / month. The contract includes a smartphone for which the customer pays $299. Loud also sells the smartphone and monthly service plan separately, charging $649 for the smartphone and $65 for the monthly service for the unlimited talk and 5 GB data wireless plan.

I need help with the math/showing work on number 2.

2. Record the initial Journal entry for Loud Companys sale of a 2-year contract on January 1, 2019, and the monthly journal entry.