Problem 18-1 (Part Level Submission) Pronghorn Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms. 1. 2. Pronghorn Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $455. The standalone selling price of the tablet is $234 (the cost to Pronghorn Company is $171). Pronghorn Company sells the Internet access service independently for an upfront payment of $270. On January 2, 2017, Pronghorn Company signed 90 contracts, receiving a total of $40,950 in cash. Pronghorn Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $551. Pronghorn Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $140. Pronghorn Company signed 180 contracts for Pronghorn Bundle B on July 1, 2017, receiving a total of $99,180 in cash. Your answer is correct. Prepare any journal entries to record the revenue arrangement for Pronghorn Bundle A on January 2, 2017, and December 31, 2017. (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. Round answers to o decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit Jan. 2, 2017 | Cash Sales Revenue 19012 Unearned Service Revenue - Internet 21938 (To record sales) Cost of Goods Sold 15390 Inventory (To record cost of goods sold) 15390 JEU JU7313 Dec. 31, 2017 Unearned Service Revenue - Internet | Service Revenue Click if you would like to Show Work for this question: Open Show Work Prepare any journal entries to record the revenue arrangement for Pronghorn Bundle B on July 1, 2017, and December 31, 2017. (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. Round answers to o decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) Dec. 31, 2017