Required information CP6-4 (Algo) Recording Journal Entry after Allocating Transaction Price to Performance Obligations [LO 6-5] [The following information applies to the questions displayed below.] Great American Oilchange (GAO ) sells a combined oil change service and parts package for $34. A customer who supplies the parts (oil and filter) is charged $24 for only the service, whereas a customer who buys only the oil and filter (for do-it-yourself use) is charged $24 for the parts. The parts cost GAO $18. CP6-4 (Algo) Part 1 Required: 1. Determine the dollar amount of revenue from the oil change service versus the sale of parts for each combined oil change package. TIP: To calculate the percentage of the combined package that relates to the service, divide the stand-alone selling price of the service by the combined stand-alone selling prices of both the service and parts