On May 1, 2018, Meta Computer, Inc., enters into a contract to sell 6,100 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $103,700, to be settled by a cash payment on May 1 Delivery is scheduled for June 1, 2018. As part of the contract, the seller offers a 25% discount coupon to rany 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 25% discount voucher, and that the coupon will be applied to $61,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit Required: 1. How many performance obligations are in this contract? 2.&3. Prepare the journal entry that Meta would record on May 1, 2018 using the given information. Then. prepare the journal entry assuming the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. Complete this question by entering your answers in the tabs below. Real Reg 2 and 3 How many performance obligations are in this contract? Number of performance obligations Reg 2 and 3 > Reg 1 Reg 2 and 3 Prepare the journal entry that Meta would record on May 1, 2018 using the given information. Then, prepare the jou the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics Instead of 25% required for a transaction event, select No journal entry required in the first account field.) View transaction list Journal entry worksheet