View Policies Current Attempt in Progress On December 31, 2020, Ivanhoe Company sells production equipment to Metlock Inc. for $54,500. Ivanhoe includes a one-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on December 31, 2020. Ivanhoe estimates the prices to be $48,400 for the equipment and $6,100 for the cost of warranty, Are the sale of the equipment and the warranty separate performance obligations within the contract? Yes e Textbook and Media List of Accounts Prepare the journal entry to record this transaction on December 31, 2020. Ignore any related cost of goods sold entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation PsLr Ai Id MacBook Pro - /19 Prepare the journal entry assuming that, in addition to the assurance warranty, Ivanhoe sold an extended warranty (service- type warranty) for an additional two years (2022-2023) for $810. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Submit Answer Attempts: 0 of 3 used Save for Later Using multiple attempts will impact your score 20% score reduction after attempt 2