Since 1970, Super Rise, Incorporated, has provided maintenance services for elevators. On Jar 2024. Super Rise obtains a contract to maintain an elevator in a 90 -story building in New York months and receives a fixed payment of $81,000. The contract specifies that Super Rise will re additional $40,500 at the end of the 10 months if there is no unexpected delay, stoppage, or a during the year. Super Rise estimates variable consideration to be the most likely amount it vil Required: 1. Assume that, because the building sees a constant flux of people throughout the day, Su allowed to access the elevators and related mechanical equipment only between 3a.m. on any given day, which is insufficient to perform some of the more time-consuming repa result. Super Rise believes that unexpected delays are likely and that it will not earn the Prepare the journal entry Super Rise would record on January 1. 2 Assume instead that Super Rise knows at the inception of the contract that it will be giver access to the elevators and related equipment each day, with the right to schedule repair any time. When given these terms and conditions, Super Rise has never had any delays o in the past. Prepare the journal entry Super Rise would record on January 31 to record on revenue. 3. Assume the same facts as requirement 1. In addition, assume that, on May 31 , Super Rise that it does not need to spend more than two hours on any given day to operate the elevi because the client's elevator is relatively new. Therefore, Super Rise believes that unexpe are very unlikely. Prepare the journal entry Super Rise would record on May 31 to recogniz revenue and any necessary revision in its estimated bonus receivable. Complete this question by entering your answers in the tabs below. Assume that, because the building sees a constant flux of people throughout the day, Super Rise is related mechanical equipment only betveen 3a.m. and 5a.m. on any given day, which is insufficie consuming repair work. As a result, Super Rise believes that unexpected delays are likely and that joumal entry Super Rise would record on January 1. Since 1970, Super Rise, Incorporated, has provided maintenance services for elevators. On Jar 2024. Super Rise obtains a contract to maintain an elevator in a 90 -story building in New York months and receives a fixed payment of $81,000. The contract specifies that Super Rise will re additional $40,500 at the end of the 10 months if there is no unexpected delay, stoppage, or a during the year. Super Rise estimates variable consideration to be the most likely amount it vil Required: 1. Assume that, because the building sees a constant flux of people throughout the day, Su allowed to access the elevators and related mechanical equipment only between 3a.m. on any given day, which is insufficient to perform some of the more time-consuming repa result. Super Rise believes that unexpected delays are likely and that it will not earn the Prepare the journal entry Super Rise would record on January 1. 2 Assume instead that Super Rise knows at the inception of the contract that it will be giver access to the elevators and related equipment each day, with the right to schedule repair any time. When given these terms and conditions, Super Rise has never had any delays o in the past. Prepare the journal entry Super Rise would record on January 31 to record on revenue. 3. Assume the same facts as requirement 1. In addition, assume that, on May 31 , Super Rise that it does not need to spend more than two hours on any given day to operate the elevi because the client's elevator is relatively new. Therefore, Super Rise believes that unexpe are very unlikely. Prepare the journal entry Super Rise would record on May 31 to recogniz revenue and any necessary revision in its estimated bonus receivable. Complete this question by entering your answers in the tabs below. Assume that, because the building sees a constant flux of people throughout the day, Super Rise is related mechanical equipment only betveen 3a.m. and 5a.m. on any given day, which is insufficie consuming repair work. As a result, Super Rise believes that unexpected delays are likely and that joumal entry Super Rise would record on January 1