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Cullumber Tutoring Services provides study support and tutoring services for university students during their final...

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Accounting

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Cullumber Tutoring Services provides study support and tutoring services for university students during their final exams. All services require cash payment in advance. Cullumber provides an Exam Prep course for $416, as well as a Post-Exam Review course for $104. The exam prep course takes place before the students have their final exams, and the exam review course takes place after final exams are complete. During December 2025, Cullumber offered a promotional package where students could purchase a package for both courses for the price of $500. On December 10 , a total of 84 promotional packages were sold for cash, and on the same day, the Exam Prep course was provided. On December 31, the Post-Exam Review course was provided. Using the five-step model for revenue recognition under the contract-based approach, record all necessary transactions related to the promotional package sold by Cullumber Tutoring Services. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)

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