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Cowboy Computing sells a tablet computer called the CowboyNotebook. The $$875$ sales price of a CowboyNotebook Package includes the following five items:

One CowboyNotebook computer.

A $6-$month limited warranty. This warranty guarantees that Cowboy 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 CowboyReader e$-$book reader for $$600,$ a price that represents a $75\%$ discount from the regular CowboyReader price of $$800.$ It is expected that $20\%$ of the discount coupons will be utilized.

A coupon to purchase a one$-$year extended warranty for $$60.$ Customers can buy the extended warranty for $$85$ at other times if they do not use the $$60$ coupon. Cowboy estimates that $40\%$ of customers will purchase an extended warranty.

Cowboy does not sell the CowboyNotebook without the limited warranty, option to purchase a CowboyReader, and the option to purchase an extended warranty, but estimates that if it did so$,$ a CowboyNotebook alone would sell for $$855.$

Required:

$1.$ & $2.$Indicate below whether each of the five items is a separate performance obligation and allocate the transaction price of $100,000$ CowboyNotebookPackages to the separate performance obligations in the contract.

$3.$Prepare a journal entry to record sales of $100,000$ CowboyNotebook Packages.

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