Creative Computing sells a tablet computer called the Protab. The $875 sales price of an 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 $180, a price that represents a 50% discount from the regular Probook price of $360. It is expected that 25% 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 $70 at other times as well. Creative estimates that 45% 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 $855. All Protab sales are made in cash. Required: 1. Indicated 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. Item Performance Stand Alone % of Total Stand Description Obligation Price Alone Price Protab Comp yes or no Limited 6month warranty yes or no Probook discount vouchers yes or no option to purchase a Probook yes or no Total Stand Alone Price Item % of Total Stand x Total Transaction = Allocated Description Alone price Price Contact PriceProtab Computers Limited 6 month warranty Probook discount vouchers Option to purchase a Probook Total Contract Price 2. Prepare a journal entry to record sales of 100,000 Protab Packages (ignore any sales of extended warranties).