Creative Computing sells a tablet computer called the Protab. The $970 sales price of a Protab Package includes the following:

• One Protab computer.
• A 6-month limited warranty. This warranty guarantees that Creative will cover any costs that arise due to repairs or replacements associated with defective products for up to six months.
• A coupon to purchase a Creative Probook e-book reader for $560, a price that represents a 30% discount from the regular Probook price of $800. It is expected that 25% of the discount coupons will be utilized.
• A coupon to purchase a one-year extended warranty for $70. Customers can buy the extended warranty for $105 at other times if they do not use the $70 coupon. Creative estimates that 35% of customers will purchase an extended warranty.
• Creative does not sell the Protab without the limited warranty, option to purchase a Probook, and the option to purchase an extended warranty, but estimates that if it did so, a Protab alone would sell for $950.

Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 90,000 Protab Packages.

My My Monroe X Question 7 - WEEK & - C X C Creative Computing Sel x C Creative Computing Sel X C Creative Computing Sel > > course hero - Search * *Course Hero * + X -> C & https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Felearn.monroecollege.edu%252Fultra.. G G WEEK 8 - Chapter 6 Saved Help Save & Exit Submit Check my work 7 Prepare a journal entry to record sales of 90,000 Protab Packages. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 20 View transaction list points Journal entry worksheet eBook Print References Record the sales of 90,000 Protab Packages. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Mc Graw Hill Type here to search O 37'F Clear ~ 9 0 6 0 ( () ENG 7:59 PM 2/25/2022My My Monroe X Question 7 - WEEK & - C X C Creative Computing Sel x C Creative Computing Sel X C Creative Computing Sel > > course hero - Search * *Course Hero * + X -> C & https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Felearn.monroecollege.edu%252Fultra... G G WEEK 8 - Chapter 6 i Saved Help Save & Exit Submit Check my work 7 --9 -- Complete this question by entering your answers in the tabs below. 20 points Req 1 and 2 Req 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 90,000 Protab eBook Packages to the separate performance obligations in the contract. Print Performance Percentage of Total References Item Descrotion Obligation? Stand Alone Price Stand Alone Price Protab tablet Yes $ 85,500,000 100.00% Limited 6-month warranty No Option to purchase a Probook Yes Option to purchase extended warranty Yes Total stand alone price $ 85,500,000 100.00% Percentage of Item Descrotion Total Stand x Total Transaction Allocated Contract Alone Price Price Price Protab tablet 100.00% * $ 87,300,000 = $ 87,300,000 Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty Total contract price $ 87,300,000 Mc Graw Hill Type here to search 37'F Clear ~ 9 0 6 0 7 ()) ENG 7:56 PM 2/25/2022