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Please show all work. Give the amount of performance obligations and the journal entries for: 1.record the recepit of cash by GE 2. record any

Please show all work. Give the amount of performance obligations and the journal entries for:
1.record the recepit of cash by GE
2. record any neccasary entry when Brink has picked up gold bars from GE
3. Record any necessary entry upon delivery of gold bars to bank
image text in transcribed
image text in transcribed
On March 1, 2018, Gold Examiner receives $166,000 from a local bank and promises to deliver 100 units of certified 1-oz gold bars on a future date. The contract states that ownership passes to the bank when Gold Examiner delivers the products to Brink's, a third-party carrier. In addition, Gold Examiner has agreed to provide a replacement shipment at no additional cost if the product is lost in transit. The stand-alone price of a gold bar is $1,577 per unit, and Gold Examiner estimates the stand-alone price of the replacement insurance service to be $83 per unit. Brink's picked up the gold bars from Gold Examiner on March 30, and delivery to the bank occurred on April 1 Required: 1. How many performance obligations are in this contract? 2. to 4. Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1 Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 4 How many performance obligations are in this contract? Number of performance obligations Reg 1 Req 2 to 4 > Req 1 Req 2 to 4 Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1. (If no entry is required for a tra select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet

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