Problem 1 (10 points) Bikeway Tour provides bike turning services in Nashville, Tennessee. A three month pass for bicycle tunning sells for $60, which entitles the customer for an unlimited number of bicycle tunings during the contract period. Bikeway estimates that pass holders tune their tour bicycles equally throughout the three-month period. On December 1st, customers purchased $1,260 of the three-month passes, with usage of the passes occurring evenly throughout the contract period Required: 1) Prepare the journal entries that Bikeway would record on December land on December 31, 2021, with respect to this transaction. 2) State the account titles and amounts that will be included in Bikeway's 2021 income statement and balance sheet