Oriole Company is an experienced manufacturer of construction equipment. Oriole's products range from pieces of automated equipment to complex systems containing numerous components. Unit selling prices range from $600,000 to $4,000,000 and are quoted inclusive of installation and training. The installation process does not involve changes to the equipment's features and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Oriole has the following arrangement with Blue Spruce Company. . Blue Spruce purchases equipment from Oriole for $2,310,000 and chooses Oriole to do the installation. Oriole charges $2,310,000 for the equipment whether it does the installation or not. (Some companies do the installation themselves because they prefer their own employees to do the work or because of relationships with other customers.) If sold separately. the installation service is estimated to have a fair value of $23.100. The fair value of the training sessions is estimated at $56,800. Other companies could also perform these training services, but Blue Spruce chooses to use Oriole for its training so it does not have to pay extra to another company. Blue Spruce is obligated to pay Oriole the $2.310,000 upon the delivery and installation of the equipment. Oriole delivers the equipment and completes the installation on November 1, 2023. (In other words, transfer of control is complete.) Training related to the equipment starts once the installation is completed and lasts for one year. What are the performance obligations for purposes of accounting for the sale of the equipment? If there is more than one performance obligation, how should the payment of $2,310,000 be allocated to various components? (Round answers to O decimal places, eg. 5,275.) Equipment $ Installation $ Training $ eTextbook and Media List of Accounts Show journal entries for the transactions in part (b1). Assume the cost of the equipment is $1,500,000. (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 O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to O decimal places, e.g. 5,275.) Debit Cn Date Account Titles and Explanation (To record sales and service revenue) (To record cost of goods sold) (To record sales and service revenue) (To record cost of goods sold)