That is the question I need help

Question 4 of 6 0 [1 E View Policies Show Attempt History Current Attempt in Progress Blossom Company manufactures equipment. Blossom's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000, and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment to perform to specifications. Blossom has the fol lowing arrangement with Winkerbean Inc. 0 Winkerbean purchases equipment from Blossom on May 2, 2020, for a price of $1,130,500 and contracts with Blossom to install the equipment. Blossom charges the same price for the equipment irrespective ofwhether it does the installation or not. Using market data, Blossom determines that the installation service is estimated to have a fair value of $59,500. The cost of the equipment is $500,000. 0 Winkerbean is obligated to pay Blossom the $1,071,000 upon delivery of the equipment and the balance on the completion of the installation Blossom delivers the equipment on June 1, 2020, and completes the installation ofthe equipment on September 30, 2020. Assume that the equipment and the installation are two distinct performance obligations that should be accounted for separately. Part 1 X Your answer is incorrect. Allocate the transaction price of $1,130,500 among the performance obligations of the contract. Assume Blossom follows IFRS. (Round percentage allocations to 2 decimal places, e.g. 12.25 and final answers to O decimal places, e.g. 5,275.) Delivery equipment $ 446500 Installation $ 6366.5Part 2 Prepare any journal entries for Blossom on May 2, June 1, and September 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit (To record sales) (To record cost of goods sold)