Business, 19.06.2020 01:57, belle5828

g Creative Computing sells a tablet computer called the Protab. The $970 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 $375, a price that represents a 40% discount from the regular Probook price of $625. It is expected that 20% of the discount coupons will be utilized. A coupon to purchase a one-year extended warranty for $60. Customers can buy the extended warranty for $95 at other times if they do not use the $60 coupon. Creative estimates that 30% 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 $950. Required: 1. & 2. Indicate below whether each item is a separate performance obligation and allocate the transaction price of 80,000 Protab Packages to the separate performance obligations in the contract. 3. Prepare a journal entry to record sales of 80,000 Protab Packages.

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g Creative Computing sells a tablet computer called the Protab. The $970 sales price of a Protab Pac...