Rocky Guide Service provides guided 1 to 5 day hiking tours throughout the various tours that Wilderness sells. Rocky receives $2,300 per tour day, and it will receive a $230 bonus per tour day it guided during the previous month evaluation of "excellent" by Wilderness customers. The $2,300 per day and a the end of each month. - On July 1 , based on prior experience, Rocky estimated there is a 20% chan 10 days from July 1 to July 15. - On July 16 , based on Rocky's view that it had provided excellent service dur to an 70% chance it would earn the bonus for all July tours. Rocky also guid - On August 5 , Rocky learned it did not receive an average evaluation of "exc bonus for July, and received all payment due for the July tours. Rocky bases estimates of variable consideration on the most likely amount it ex Required: 1. Prepare Rocky's July 15 journal entry to record revenue for tours given fro 2. Prepare Rocky's July 31 journal entry to record revenue for tours given fror 3. Prepare Rocky's August 5 journal entry to record any necessary adjustmer Note: If no entry is required on a specific date, select "No journal entry require y hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead ives $2,300 per tour day, and shortly after the end of each month, Rocky learns whether ded during the previous month if its service during that month received an average ners. The $2,300 per day and any bonus due are paid in one lump payment shortly after y estimated there is a 20% chance it will earn the bonus for July tours. It guided a total of ad provided excellent service during the first part of the month, Rocky revised its estimate for all July tours. Rocky also guided customers for 15 days from July 16 to July 31. eive an average evaluation of "excellent" for its July tours, so it would not receive any due for the July tours. tion on the most likely amount it expects to receive. o record revenue for tours given from July 1 -July 15. record revenue for tours given from July 16 -July 31. y to record any necessary adjustments to revenue and receipt of payment from Wilderness. late, select "No journal entry required" in the first account field