Creative Computing sells a tablet computer called the Protab. The $780 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 $200, a price that represents a 50% discount from the regular Probook price of $400. It is expected that 20% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $50. Customers can buy the extended warranty for $75 at other times if they do not use the $50 coupon. Creative estimates that 40% 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 $760. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 100,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 100,000 Protab Packages. Req 1 and 2 Req 3 Indicate below whether each item is a separate performance obligation and allocate the transaction price of 100,000 Protab Packages to the separate performance obligations in the contract. Performance Percentage of Item Description Obligation? Stand-Alone Price Total Stand-Alone Price Protab tablet Yes $ 76,000,000 V 75.25% Limited 6-month warranty No $ 0 Option to purchase a Probook Yes V $ 20,000,000 X 19.80% Option to purchase extended Yes $ 5,000,000 X 4.95% warranty Total stand-alone price $ 101,000,000 100.00% Percentage of Total X Item Description Total Stand- Transaction Allocated Alone Price Price Contract Price Protab tablet 75.25% X $ 78,000,000 $ 58,695,000 Limited 6-month warranty Option to purchase a Probook 19.80% X $ 78,000,000 $ 15,444,000 Option to purchase extended 4.95% X $ 78,000,000 $ 3,861,000 warranty Total contract price $ 78,000,000Req 1 and 2 Req 3 Prepare a journal entry to record sales of 100,000 Protab Packages. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Sales revenue 58,695,000 Deferred revenue - coupons 15,444,000 Deferred revenue - extended warranties 3,861,000 @