Time Tolan Corpsells air conditioners. Pricing and cost information on conditioner areas follows Item Unit Standalone Selling Unit Cost Price Wir conditioner $3,800 $2.900 Tolan Corpsels 5 ar conditioners to Ace company at a fost contract price of $10.000. The contract price also includes a 2 year mantenance plan starting from the appliance delivery date. The maintenance Service is determined to have a far value of $1.000 Ace company is obligated to pay Toan Corp. the $10.000 upon the delivery of the appliance for Corp on the contract on uyt.2020. These conditioner are delivered on October 1, 2000, and the contract price is paid to Yolan Corp. on the same date. The 2 year maintenance plan starts from October 1, 2020 (Note: you may not allows/columns of the provided tables) 1 A B 1 15 % (1) What are the 2 different performance obligations in this revenue angement points The performance obligationis Delivery of conditioner The performance obligationis providing of internet for 2 12) How should the transaction price of $10,000 be allocated between the performance obligations Show your computation in the table below.porn) Delivery of air conditioner 19.000 maintenance services for 2 years 1.000 tot 20,000 Prear all necessary journal entries for Tolan Corp. on October 1, 2020 upon the very of the other the contents 0 bank AC TO SALES Prepare all necessary journal entries for Toron Corp. on October 1, 2020 pon delivery crie couper and the recept the conden De bank A/C TO SALES TO DETERHED REVENUE FOR MAINTENCE SERVICES (4) Prepare the adjusting journal entry for Tolan Corp. on December 31, 2020. f4 ponto D CH SEFERRED REVENUE FOR MANINTECE SERVICES Time left Tolan Corp. Sells air conditioners. Pricing and cost information on air conditioner are as follows Item Unit Standalone Selling Unit Cost Price Air conditiones $3.800 $2,900 Tolan Corpsels 5 air conditioners to Ace company at a total contract price of $18.000. The contract price includes a 2 year maintenance plan starting from the appliance delivery date the maintenance service is determined to have a fair value of $1,000 Ace company is obligated to pay Tolan Corp. the $1.000 upon the delivery of the app tolon Corpon the contract on July 2020. The air conditioners we delivered on October 1, 2020, and the contract price is paid to Tolan Comp on the same date. The 2 your maintenance plan starts from October 1.200 (Note you may not use all cows/columns of the provided tables) A-B1 The performance obligationis providing a maintenance for you How should the transaction one of $18.000 be allocated between the performance obligation Show your compute the table bow.) Delivery of air conditioner 10,000 main services for 2 years 1.000 total 20.000 Peale all necessary journal entries for Tolon Corp. on October 1, 2020 upon you and receipt of the compati) DI
