Question: 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

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 Total Item Description Obligation? Stand-Alone Price Stand-Alone Price Protab tablet $ 720 100.00% Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty Total stand-alone price $ 720 100.00% Percentage of X Item Description Total Stand- Total Transaction Allocated Contract Alone Price Price Price Protab tablet 100.00% X Limited 6-month warranty Option to purchase a Probook Option to purchase extended warranty Total contract price $ 0Journal entry worksheet Record the sales of 100,000 Protab Packages. Note: Enter debits before credits. Creative Computing sells a tablet computer called the Protab. The $740 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 $225, a price that represents a 40% discount from the regular Probook price of $375. It is expected that 20% 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 $100 at other times if they do not use the $70 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 $720. 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

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