Universaty to operate five bus lines traveling throughout the campus. Under the contract. Terra will be paid $100,000 on the last day of each month. In addition. Terra will receive an additional $120,000 at the end of each six-month period, provided it remains free of accidents - On danuary 1, based on historical experience. Terra estimated that there is a 75% chance that it wil rechain free of accidents for the entire yeat. - On March 20, three of the most senior drivers at Terra abruptly left. As a result, Terra had to hire inexperienced drivers to fill the vacant positions. Consequently. Terra revised its estimate to a 30% chance that it would be ent itled to receive the semiannusl bonus and decided to continue this 30% probability estimate until its sox-month review at the end of June - On lune 30, Moose confirmed that there was no accident between January and June; so Terra would be entitled to the semiannual bonus. Tera bases estimates of variable consideration on the expected value it expects to receive Required: Prepare Terra's June 30 joumal entry to account for cash received from Moose University. Include the fevenue to be recognized for June 1-June 30, as well as any necessary adjustments to revente presumed to have been previously recorded Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Record the cash received in June, revenue to be recognized for June, and any necessary adjustments. Note: Enter debits before credits