Rocky Guide Service provides guided 15 day hiking tours throughout the Rocky Mountains Wilderness Tours hires Rocky to lead various tours that Wilderness sells Rocky receives $1,700 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $170 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of excellent by Wilderness customers The $1,700 per day and any bonus due are paid in one lump payment shortly after the end of each month On July 1, based on prior experience, Rocky estimated there is a 20 chance it will earn the bonus for July tours It guided a total of 10 days from July 1July 15 On July 16, based on Rockys view that it had provided excellent service during the first part of the month, Rocky revised its estimate to an 70 chance it would earn the bonus for all July tours Rocky also guided customers for 15 days from July 16July 31 On August 5 Rocky learned it did not receive an average evaluation of excellent for its July tours, so it would not receive any bonus for July, and received all payment due for the July tours Rocky bases estimates of variable consideration on the most likely amount it expects to receive Chapter 6 HW Help Save Exit Submit Check my work mode This shows what is correct or Incorrect for the work you have completed so far It does not indicate completion Return to question 5 bonus for July, and received all payment due for the July tours Rocky bases estimates of variable consideration on the most likely amount it expects to reccive 0 8 points Required 1 to 3 Prepare the journal entries to record the transactions above (If no entry is required for a transaction event, select No journal entry required in the first account field ) Answer is not complete No Date General Journal Debit Credit 1 July 15 Accounts receivable Service revenue 2 July 31 Acoounts receivable Bonus recolvable Serce revenue 3 Auguet 05 Ceah Accounts receivable 4 August 05 Service revende Bonus receivable Mc Gran Hill Peale Screenshot PH 28 A w

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Rocky Guide Service provides guided 15 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky

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Rocky Guide Service provides guided 15 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,700 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $170 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,700 per day and any bonus due are paid in one lump payment shortly after the end of each month.

On July 1, based on prior experience, Rocky estimated there is a 20% chance it will earn the bonus for July tours. It guided a total of 10 days from July 1July 15.
On July 16, based on Rockys view that it had provided excellent service during the first part of the month, Rocky revised its estimate to an 70% chance it would earn the bonus for all July tours. Rocky also guided customers for 15 days from July 16July 31.
On August 5 Rocky learned it did not receive an average evaluation of excellent for its July tours, so it would not receive any bonus for July, and received all payment due for the July tours.

Rocky bases estimates of variable consideration on the most likely amount it expects to receive.

Chapter 6 HW Help Save & Exit Submit Check my work mode : This shows what is correct or Incorrect for the work you have completed so far. It does not indicate completion. Return to question 5 bonus for July, and received all payment due for the July tours. Rocky bases estimates of variable consideration on the most likely amount it expects to reccive. 0.8 points Required: 1. to 3. Prepare the journal entries to record the transactions above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) * Answer is not complete. No Date General Journal Debit Credit 1 July 15 Accounts receivable Service revenue 2 July 31 Acoounts receivable Bonus recolvable Serce revenue 3 Auguet 05 Ceah Accounts receivable 4. August 05 Service revende Bonus receivable Mc Gran Hill Peale Screenshot PH 28 A w