Saved Help Save & Exit Submit Check my work Creative Computing sells a tablet computer called the Protab. The $920 sales price of a Frotab Package includes the following: One Protab computer. A six-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months. A coupon to purchase a Creative Probook e-book reader for $400, a price that represents a 50% discount from the regular Probook price of $800. It is expected that 25% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $60. Customers can buy the extended warranty for $60 at other times as well. Creative estimates that 35% of customers will purchase an extended warranty. Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $900. All Protab sales are made in cash. Required: 1. & 2. Indicated below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 90,000 Protab Packages (ignore any sales of extended warranties). Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Prepare a journal entry to record sales of 90,000 Protab Packages (ignore any sales of extended warranties). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. "to search 1 < Prev 7 of 7 Next > 10:07 AM Links 78F 7/12/2023 2023SM-BUS-x M Question 7-Ex C Course Hero x [Solved] Brans: X + M Question 2-x M Question 4-x M Question 2-Wx ezto.mheducation.com/ext/map/index.html?_con con&external browser-08&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddle... Exam 2 Saved 7 Help Save & Exit Submit Check my work 3. Prepare a journal entry to record sales of 90,000 Protab Packages (ignore any sales of extended warranties). Complete this question by entering your answers in the tabs below. 01:45:15 Req 1 and 2 Req 3 Indicated below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. Item Description Protab computers Limited six-month warranty Option to purchase a Probook Option to purchase extended warranty Total stand alone price Item Description Protab computers Limited six-month warranty Option to purchase a Probook Option to purchase extended warranty Total contract price Mc Graw Hill Type here to search Performance Obligation? Stand-Alone Price Percentage of Total Stand-Alone Price Yes $ 81,000,000 90% No Yes $ 9,000,000 10% No $ 90,000,000 100% Percentage of Total Stand- Alone Price Total Transaction Price Allocated Contract Price 90% $ 82,800,000-$ 74,520,000 10% x $ 82,800,000-$ 8,280,000 $ 82,800,000 < Prev 7 of 7 Next > 100 Links 78F 7/12 20235M-BUS-x Course Hero x [Solved] Brans x + M Question 7-X M Question 2-x M Question 4-Vx M Question 2-VX ezto.mheducation.com/ext/map/index.html?_con-con&external browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddle... Exam 2 7 Saved Help Save & Exit Submit Check my wor 3. Prepare a journal entry to record sales of 90,000 Protab Packages (ignore any sales of extended warranties). Complete this question by entering your answers in the tabs below. 04509 Req 1 and 2 Req 3 Prepare a journal entry to record sales of 90,000 Protab Packages (ignore any sales of extended warranties). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list View journal entry worksheet No Transaction General Journal 1 1 Cash Sales revenue Deferred revenue-coupons Mc Graw < Prev 7 of 7 Next > Type here to search Debit Credit 82,800,000 74,520,000 8,280,000 Links 78F