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Clarks Incorporated, a shoe retailer, sells boots in different styles. In early November the company...

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Accounting

Clarks Incorporated, a shoe retailer, sells boots in different styles. In early November the company starts selling SunBoots to customers for $60 per pair. When a customer purchases a pair of SunBoots, Clarks also gives the customer a 20% discount coupon for any additional future purchases made in the next 30 days. Customers cant obtain the discount coupon otherwise. Clarks anticipates that approximately 10% of customers will utilize the coupon, and that on average those customers will purchase additional goods that normally sell for $150. Required: How many performance obligations are in a contract to buy a pair of SunBoots? Assume Clarks cannot estimate the stand-alone selling price of a pair of SunBoots sold without a coupon. Prepare a

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