Respond to the requirements related to the following independent revenue arrangements for Frosty Times Inc. products and services. 2 3 Frosty Times offers a stand-alone freezer and refrigerator package, plus installation and maintenance, for a total price of $2,000. On its own, the freezer sells for $900 (cost $490) and the refrigerator sells for $1,000 (cost $540). Frosty Times estimates that price of the installation service on a standalone basis is $120. The cost of the two-year maintenance contract on its own is $240. Frosty Times sold 10 of these packages on 5/1/24, receiving the contract price in cash. The units were delivered on 5/15/24 and installed on 6/1/24. Prepare all of the journal entries for Frosty Times for 2024. On 8/1/24, Frosty Times sold one of its freezer and refrigerator packages to a struggling local builder and accepted a 3-year, zero-interest-bearing note with a face amount of $2,400. The package was delivered and installed on 8/15/24. Prepare all of the journal entries required in 2024 with respect to this contract. Frosty Times sells certain specialty combination freezer/refrigerators to some contractors for $2,200 (cost $1,300) on credit with terms 2/30, net/90. Prepare the journal entries for the sale and delivery of 20 of these combination sets on 10/1/24, and upon payment, assuming the customer paid on (1) 10/25/24, and (2) 12/19/24. Frosty Times uses the net method to record sales.