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You must show and label all supporting computations in order to receive full credit even if your final answer is correct!!!!!!!!!! Sierra Nevada Hiking Service
You must show and label all supporting computations in order to receive full credit even if your final answer is correct!!!!!!!!!! Sierra Nevada Hiking Service provides guided hiking tours to Customer Company, Sierra Nevada receives $1,500 per tour day, Sierra Nevada earns $100 bonus per tour day if its service received an average evaluation of excellent by customers. Assume Sierra Nevada bases estimates of variable consideration on the expected value it expects to receive Sierra Nevada guided a total of 10 days from August 1-August 15. Sierra Nevada estimated that there is a 40% chance that it will earn the bonus for August tours. Sierra Nevada also guided customers for 10 days from August 16-August 26. On August 16. Sierra Nevada revised its estimate to a 90% chance it would earn the bonus for August tours. As of August 315 Sierra Nevada learned that it did receive an average evaluation of excellent for its August tours. 1) What amount of total service revenue would Sierra Nevada record/journalize as of August 15th? You do not need to prepare the journal entry. Provide the amount with the appropriate computations and labels 2/What amount of total service revenue for the month of August would Sierra Nevada report in an income statement as of August 315
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