On May 1, 2016, Meta Computer, Inc., enters into a contract to sell 5,750 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $135,000, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2016. As part of the contract, the seller offers a 30% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Meta Computer estimates a 50% probability that Bionics will redeem the 30% discount voucher, and that the coupon will be applied to $18,400 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.60 per unit.

1-Prepare the journal entry that Meta would record on May 1, 2016

2-

Prepare the journal entry that Meta would record on May 1, 2016. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 30%.