Allocating a Transaction Price Seven Flags Park offers a promotion for free parking to...

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Accounting

Allocating a Transaction Price
Seven Flags Park offers a promotion for free parking to customers who purchase a one day pass to enjoy thrill rides at its park ($45) plus two meal vouchers ( $35) for a total of $80. Seven Flags sells each of
contract promises separately during the same timeframe for the following standalone prices: Day pass =$45, Parking =$20, and Two meal vouchers =$35. Compute the allocated transaction price of the da
two meals, and parking for Seven Flags assuming the sale of 500 promotional packages on July 15.
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