Rocky Guide Service provides guided 1 to 5 day hiking tours throughout the Rocky Mo various tours that Wilderness sells. Rocky receives $2,400 per tour day, and shortly aft it will receive a $240 bonus per tour day it guided during the previous month if its servi evaluation of "excellent" by Wilderness customers. The $2,400 per day and any bonus the end of each month. - On July 1, based on prior experience, Rocky estimated there is a 30% chance it will e 10 days from July 1 to July 15. - On July 16, based on Rocky's view that it had provided excellent service during the fi to an 80% chance it would earn the bonus for July tours. Rocky also guided custome - On August 5, Rocky learned it did not receive an average evaluation of "excellent" fo bonus for July, and received all payment due for the July tours. Rocky bases estimates of variable consideration on the expected value it expects to rec Required: 1. Prepare Rocky's July 15 journal entry to record revenue for tours given from July 1 2. Prepare Rocky's July 31 journal entry to record revenue for tours given from July 16 3. Prepare Rocky's August 5 journal entry to record any necessary adjustments to rev Note: If no entry is required on a specific date, select "No journal entry required" in the 1 to 5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead cky receives $2,400 per tour day, and shortly after the end of each month, Rocky learns whether ay it guided during the previous month if its service during that month received an average s customers. The $2,400 per day and any bonus due are paid in one lump payment shortly after e, Rocky estimated there is a 30% chance it will earn the bonus for July tours. It guided a total of that it had provided excellent service during the first part of the month, Rocky revised its estimate e bonus for July tours. Rocky also guided customers for 15 days from July 16 to July 31. not receive an average evaluation of "excellent" for its July tours, so it would not receive any yment due for the July tours. nsideration on the expected value it expects to receive. entry to record revenue for tours given from July 1 -July 15. entry to record revenue for tours given from July 16 -July 31. hal entry to record any necessary adjustments to revenue and receipt of payment from Wilderness. ecific date, select "No journal entry required" in the first account field. Journal entry worksheet Record Rocky's July 15 journal entry for revenue from tours given from July 1 to July 15. Note: Enter debits before credits. Journal entry worksheet Record Rocky's July 31 journal entry for revenue from tours given from July 16 to July 31 . Note: Enter debits before credits. Journal entry worksheet Record Rocky's August 5 journal entry for the receipt of payment from Wilderness. Note: Enter debits before credits. Journal entry worksheet Record Rocky's August 5 journal entry for any necessary adjustments to revenue. Note: Enter debits before credits