Question: Can someone answer this for me please i will leave a thumbs up!! Guide Service provides guided 1 to 5 day hiking tours throughout the
Guide Service provides guided 1 to 5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead s tours that Wilderness sells. Rocky recelves $2,500 per tour day, and shortly after the end of each month, Rocky learns whether ecelve a $250 bonus per tour day it gulded during the previous month if its service during that month recelved an average tion of "excellent" by Wilderness customers. The $2,500 per day and any bonus due are paid in one lump payment shortly after d of each month. July 1 , based on prior experience, Rocky estimated there is a 40% chance it will earn the bonus for July tours. It guided a total of tays from July 1 to July 15. July 16 , based on Rocky's view that it had provided excellent service during the first part of the month, Rocky revised its estimate in 90% chance it would earn the bonus for all July tours. Rocky also guided customers for 15 days from July 16 to July 31 . August 5, Rocky learned it did not recelve an average evaluation of "excellent" for its July tours, so it would not recelve any ius for July, and recelved all payment due for the July tours. bases estimates of variable consideration on the most likely amount it expects to recelve. red: Trepare Rocky's July 15 journal entry to record revenue for tours given from July 1-July 15. 'repare Rocky's July 31 journal entry to record revenue for tours given from July 16 -July 31. repare Rocky's August 5 journal entry to record any necessary adjustments to revenue and receipt of payment from Wilderness. If no entry is required on a specific date, select "No journal entry required" in the first account field
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