to help Burger Boy, a fast-food restaurant, design a marketing strategy to compete Velocity, a consulting firm, enters into a with Burger King. The contract spans eight months. Burger Boy promises to pay $42,000 at the beginning of each month. At the end of the contract, Velocity either will give Burger Boy a refund of $14,000 or will be entitled to an additional $14,000 bonus, depending on whether sales at Burger Boy at year-end have increased to a target level. At the inception of the contract, Velocity estimates an 80% chance that it will earn the $14,000 bonus and calculates the contract price based on the expected value of future payments to change, and Velocity revises to 60% its estimate of the probability that it will earn the bonus. At the end of the contract, Velocity receives the additional consideration of $14,000. Required: 1. to 4. Prepare the journal entries related to the contract. (if no entry is required for a transaction/event, select "No journal entry in the first account field.) Journal entry worksheet Record the entry to record revenue each month for the first four months of the