Wildhorse Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi Fi hot spot It offers two bundles with the following terms 1 Wildhorse Bundle A sells a tablet with 3 years of Internet service The price for the tablet and a 3 year Internet connection service contract is $523 The standalone selling price of the tablet is $248 (the cost to Wildhorse Company is $178) Wildhorse Company sells the Internet access service independently for an upfront payment of $323 On January 2, 2017, Wildhorse Company signed 100 contracts, receiving a total of $52,300 in cash 2 Wildhorse Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3 year contract period That product bundle sells for $633 Wildhorse Company provides the 3 year tablet service plan as a separate product with a standalone selling price of $145 Wildhorse Company signed 200 contracts for Wildhorse Bundle B on July 1, 2017, receiving a total of $126,600 in cash Prepare any journal entries to record the revenue arrangement for Wildhorse Bundle A on January 2, 2017, and December 31, 2017 (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 Round answers to 0 decimal places, e g 5,125 ) Prepare any journal entries to record the revenue arrangement for Wildhorse Bundle B on July 1, 2017, and December 31, 2017 (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 Round answers to 0 decimal places, e g 5,125 ) Repeat the requirements for part (a), assuming that Wildhorse Company has no reliable data with which to estimate the standalone selling price for the Internet service (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 Round answers to 0 decimal places, e g 5,125 )

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Wildhorse Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot

Wildhorse Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms.

1.		Wildhorse Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $523. The standalone selling price of the tablet is $248 (the cost to Wildhorse Company is $178). Wildhorse Company sells the Internet access service independently for an upfront payment of $323. On January 2, 2017, Wildhorse Company signed 100 contracts, receiving a total of $52,300 in cash.
2.		Wildhorse Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $633. Wildhorse Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $145. Wildhorse Company signed 200 contracts for Wildhorse Bundle B on July 1, 2017, receiving a total of $126,600 in cash.

Prepare any journal entries to record the revenue arrangement for Wildhorse Bundle A on January 2, 2017, and December 31, 2017. (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. Round answers to 0 decimal places, e.g. 5,125.)

Prepare any journal entries to record the revenue arrangement for Wildhorse Bundle B on July 1, 2017, and December 31, 2017. (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. Round answers to 0 decimal places, e.g. 5,125.)

Repeat the requirements for part (a), assuming that Wildhorse Company has no reliable data with which to estimate the standalone selling price for the Internet service. (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. Round answers to 0 decimal places, e.g. 5,125.)