Question: Please make the journal entries for 1, 2, & 3 in details. Hooli Flix offers access to a variety of movies and games on a

Please make the journal entries for 1, 2, & 3 in details.
Hooli Flix offers access to a variety of movies and games on a subscription basis. Hooli Flix access requires delivery of a console device (sold for $110 on an individual basis) and subscriptions that allow access to the movie and game menus ($25 for a year's access). Beginning January 1, Hooli Flix offered a promotional package: Console device and two-year subscription for $130. On 1/1/17, Hooli Flix contracted separately with Wollyhood who provides the company with access to its movie database. Hooli Flix is provided an incentive contract for the number of users who log into Wollyhood's database through Hooli Flix's subscription: 1. Provide the journal entry required if 1, 35,000 subscribers signed up for the package from 1/1 - 1/15 as well as any entry required to record the incentive bonus. 2. On 1/15, due to the volume of subscribers, Hooli Flix adjusted its expected likelihood to earn the bonus incentive. 3. On 2/1, it was determined that an additional 1, 100,000 subscribers joined Hooli Flix from 1/15 - 1/31. Record the revenue from extra subscribers during this time period as well as any adjustment required to the incentive bonus assuming that they earned the $3, 500,000
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