Problem 18-1 Sheffield 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. Sheffield 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 $485. The standalone selling price of the tablet is $256 (the cost to Sheffield Company is $165). Sheffield Company sells the Internet access service independently for an upfront payment of $280. On January 2, 2017, Sheffield Company signed 100 contracts, receiving a total of $48,500 in cash 2. Sheffield 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 $578. Sheffield Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $155. Sheffield Company signed 200 contracts for Sheffield Bundle B on July 1, 2017, receving a total of $115,600 in cash Prepare any journal entries to record the revenue arrangement for Sheffield 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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit Jan. 2, 2017 Cash 53,600 Unearned Sales Revenue 25,300 Sales Revenue 23,200 (To record sales) Cost of Goods Sold 16,500 Inventory 16,500 (To record cost of goods sold)