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Please solve for the two incorrect answers. 64,550 and 3,450 are incorrect as well. Please take your time On May 1, 2024, Meta Computer, incorporated,
Please solve for the two incorrect answers.
On May 1, 2024, Meta Computer, incorporated, enters into a contract to sell 4,000 units of Comfort Office Keyboard to one of its cilents, Bionics, incorporated, at a fixed price of $68,000, to be settled by a cash payment on May 1 Dellvery is scheduled for June 1. 2024 As part of the contract, the seller offers 25% 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 avallable to all customers. Based on experlence, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher and that the coupon will be applied to $40,000 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. Prepare the journal entry that Meta would record on May 1, 2024 3. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25% in this case, what journal entry would Meta record on May 1, 2024? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the journal entry that Meta would record on May 1, 2024. Note: If no entry is required for a transactionvevent, select "No journal entry required" in the first account field 64,550 and 3,450 are incorrect as well. Please take your time
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