Question is follow:
On March 1, 2021, Gold Examiner receives $154,000 trom a local bank and promises to deliver 96 units of certied 1-01. 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 thirdparty carrier. In addition, Gold Examiner has agreed to provide a replacement shipment at no additional cost if the product is lost in transit. The standalone price of a gold bar is $1,560 per unit, and Gold Examiner estimates the standalone price of the replacement insurance service to be $65 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. Red 1 Reg 2 to 4 How manyI perfonnance obigations are i1 this contract? Req 1 Req 2 to 4 Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 > Record the receipt of cash by Gold Examiner. Note: Enter debits before credits. Date General Journal Debit Credit March 01, 2021 Record entry Clear entry View general journalReq 1 Req 2 to 4 Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet