Software Supplier Inc. sells to a customer a perpetual software license and post-contract customer support for a 12-month period, commencing at the time that the software is activated. Software Supplier Inc. charges $180 upfront when the software is purchased and $12 a month for 12 months, due at the end of the month. Software Supplier Inc. sells the software separately for $240 while the standalone selling price of the post-contract customer support is $120. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Note: If a journal entry (or a line of the journal entry) isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). a. How should the transaction price be allocated among the performance obligation(s)? Performance Obligations Transaction Price as Stated Standalone Selling Price Allocated Transaction Price (rounded) Software 180 $ 240 $ Customer support 144 120 324 $ 360 $ $ Cash b. Prepare Software Supplier's journal entry to record sale of software to the customer and the entry for the first monthly payment. Account Name Accounts Receivable To record sale of software. Cash V V V V V Y To record first monthly payment from customer. Dr. 180 0 0 12 0 0 Cr. 0 0 0 0 216 108 324 0 0