Problem $4(13$ points$)$

Jesse's Pool sells a special family season pass package for $$500.$ The package allows unlimited use of the indoor pool from Oct. $1,{2023}_{?}$ to May $31,2024(8$ months$)$; the pass normally sells $$400.$ In addition, the purchaser gets $3$ towels that would normally sell for $$100.$ And lastly the package includes $10$ coupons that give $30\%$ off purchases of food while at Jesse's Pool. It is expected that $80\%$ of the coupons will be used, and the average purchase would be $$25.$ Jessie sold $10$ packages on $\frac{10}{1}\frac{?}{2023}$ giving the passes, towels and coupons to the purchasers. By the end of the year, $20$ of the $100$ coupons had been redeemed $($Jessie records the revenue in adjusting entries$).($round to the nearest $$1)$

Instructions: Record the $(1)$ sale of the $10$ packages on Oct $1.$ Be sure to show your work.

Work $($required and graded$)$

Identify the Performance Obligations $($PO$\text{'}$s$)$:

What value is allocated to each of these PO's?

$\backslash$table$[[$Oct $1$ Entry,Acct and Amount Debit,Account and Amount Credit$],[,,],[,,],[,,],[,,],[,,]]$

Record the adjusting entry as of $\frac{12}{31}.$ Work for recognition of deferred revenue?

$\backslash$table$[[$Dec $31$ Entry,Acct and Amount Debit,Account and Amount Credit$],[,,],[,,],[,,]]$