Wildhorse Tailors 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 $496. The standalone selling price of the tablet is $238 (the cost to Wildhorse Tailors is $184 ). Wildhorse Tailors sells the Internet access service independently for an upfront payment of $306. On January 2, 2025, Wildhorse Tailors signed 110 contracts, receiving a total of $54,560 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 $606. Wildhorse Tailors provides the 3 -year tablet service plan as a separate product with a standalone selling price of \$136. Wildhorse Tailors signed 220 contracts for Wildhorse Bundle B on July 1, 2025, receiving a total of $133,320 in cash. In response to competitive pressure for Internet access for Wildhorse Bundle A after 2 years of the 3-year contract, Wildhorse Tailors offers a modified contract and extension incentive. The extended contract services are similar to those provided in the first 2 years of the contract. Signing the extension and paying $100 (which equals the standalone selling price of the revised Intemet service package) extends access for 2 more years of Internet connection. 40 Wildhorse Bundle A customers sign up for this offer. (a) Prepare the journal entry when the contract is signed on January 2.2027, for the 40 extended contracts. Assume the modification does not result in a separate performance obligation. (Credit account titles are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" "for the account titles and enter o for the amounts List debit entry before credit entry.) Prepare the journal entry on December 31,2027 , for the 40 extended contracts (the first year of the revised 3-year contract). Gedit occount titles are automatically indented when the amount is entered. Donot indent manually if no entry is required, select Mo entry for the account titles and enter 0 for the amounts. Round answers to a decimal places, eg. 5,125 . List debit entry before aredit entryal